How Can I Reduce My Taxes?

My guess is that when you clicked on this button, you were hoping that I could offer some practical and easy ways of reducing your taxes. Each tax season and through out the year I prepare tax returns and estimate future tax bills. My goal is to stay out ahead of the end of the year and keep you informed of your tax situation and create tax strategies which will help you reduce your taxes and keep you in compliance with tax law. Here are a few general principles I use in tax planning for my clients.

1. There is no magic wand. Taxes are dictated by a complex set of rules.

2. It is important that you participate in the tax planning process. You need to be willing to keep your books and records up to date so that a tax estimate can be made easily and accurately.

3. You cannot manage what you don't know about. It is important that you look at you tax situation before the close of the tax year.

4. You must either invest cash in yourself, buy a house, put money into a retirement plan, invest in equipment for your business, etc. or you pay taxes.Either way the cash has to go.

5. Find out the tax ramifications of a transaction before you conclude the transaction.

View a short power point presentation which gives some tips on reducing taxes.

Top Ten Ways to Manage and Slash Your Taxes

Money Psychology