It’s important to consider taxes when creating a financial plan. Depending on your individual circumstances, such as age and income, taxes can have an impact. Say saving for retirement is a main goal for you, and your place of employment offers a 401(k) plan. By choosing to enroll in the plan you will have a pathway to meet your goal, and tax advantages may be able to get you there even quicker. Also, when considering your net worth as part of the financial plan, a liability to factor in may be income taxes or taxes due on the profits of your investments.