Personal Tax Advisor

Apex Associates provides accounting solutions for Limited Companies from the preparation of annual accounts to a total accountancy package. We handle your Company Secretarial duties for you will save you and your business time that could be spent far more beneficially elsewhere.

Thursday, November 25, 2010

Tax Financial Planning

Tax financial planning is an important part of your financial plan but generally it has been seen that many people fail to plan when it come to taxes. You can save significant amounts of money regarding your tax liability if you are willing to be plan.
For Tax Financial Planning you need to consider on following strategies:-
  • Take full advantage of the standard deduction or itemized deductions and personal exemptions.
  • Accelerate retirement distributions when you have excess deductions.

  • Plan to take the Credit for the Elderly.

  • Maximize tax-free income.

  • Defer retirement plan distributions until needed.

There are many other potential tax planning strategies so I encourage you to speak to your tax professional for ideas and suggestions. Tax preparation is nothing other than “documenting history.” Tax planning is where the real money is saved. I encourage you to take some time before the end of the year to see how you can proactively plan to reduce your 2010 tax liability.


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