What is your biggest budget expense item? For most of our clients the answer is…Income Tax!
What can we do about it? - Plan ahead!
The best time to start income tax planning is when you have last year’s completed return.
What can we control? What can’t we control?
Libraries of books have been written about the following techniques we may implement for a more effective approach to reduce the impact of income taxes. And…guess what?…they are all out of date every time congress updates the rulebook!
We will comment, at a very high level, on various techniques that may be suitable given your personal facts and circumstances.
Our goal with this short article is to both stimulate a tax-awareness mentality but also present a few of many additional ideas that may enable you to increase your after-tax wealth.
Please contact us to discuss any questions you have or schedule a meeting.
This information is not meant as tax or legal advice. Please consult with the appropriate tax or legal professional regarding your particular circumstances before making any investment decisions.