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Question

What is the difference between tax filing and tax planning?

Answer

Tax filing is a once-a-year, backward-looking process of reporting what happened and submitting your return. Tax planning is proactive and ongoing throughout the year — it involves making financial and investment decisions with your tax situation in mind so that you’ve taken advantage of potential savings opportunities long before the filing deadline arrives.

Related FAQs

Does Mercer Advisors offer tax preparation and planning services?

How do I get started with integrated tax and wealth management at Mercer Advisors?

What’s the advantage of having your taxes done at the same firm that manages your wealth?

Is it better to make a Trump Account contribution or give cash directly to my child?
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Last Updated July 10, 2026
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