Tax Planning Tip

You may never have had a discussion with a tax professional about tax planning.  Most people, including many of my peers, don't have the mindset to view their taxes as a plannable event.  Most people view taxes as tax preparation, which is an after the fact activity.  You can't undue the previous year when you are filing your taxes.  That means that people are often faced with a large tax bill or paid a lot of taxes during the year.  I hope that I can change your mindset and the mindset of others in the area.  I believe that tax planning is more important than tax preparation because it is a place where you can really save money. 

How can you save money through tax planning?  It isn't by utilizing "gray areas" of the tax law.  It is by using the tax laws to your advantage and the best options that are legally available to you.  These strategies involve utilizing obligations that you already have and use, such as medical expenses, saving for retirement, business related expenses, caring for your children, etc.  There are lots of ways to plan and your options depend upon your specific situation.  Feel free to contact me to discuss your options.

As a closing thought on this topic, what would you do with the money you are going to save from tax planning?