After more than 30 years of financial planning experience, the majority of the people we meet pay more in income taxes than is necessary. Why? Because most people have their taxes prepared versus planned. The tax code is full of opportunities and strategies to reduce, eliminate or minimize taxes. However, most Americans are too busy earning a living to investigate these options and many don’t even know they exist. Thus, they pay more than they need to pay and continue to work harder because of it. HOW MUCH DID YOU PAY IN TAXES LAST YEAR? WANT TO FIND OUT? Check your 2015 Federal Tax Return 1040…Line 63 shows what you paid in Federal Income Taxes. Now, find CA return, Form 540, see line 64. Total both and divide by 12 to see what you PAID, on average EACH MONTH last year! Shocked?
As part of our comprehensive planning services, we review the last two years of your income tax returns and show you areas which may have caused you to pay extra taxes. As a result of our planning, you will learn tips and strategies that may help you reduce your future tax burden.
Your income tax return will also show us if your investments are aggravating your income taxes unnecessarily. Many people purchase (or are sold) investments without consideration for the income tax impact. Many people have portfolios which produce income they do not currently need. Others have growth investments and would like extra income.
Our tax planning strategies will show you how to pay less and keep more of your hard-earned income. Remember, it’s what you keep that counts!
When was the last time your accountant actually reviewed your income tax return with you? We will. Tax planning before tax preparation can mean big savings for you each and every year.
PS: If your tax prepared is only “preparing” your taxes and not providing your “tax planning ideas, i.e., ideas to reduce your tax burden), let us know and we can refer your to a qualified Enrolled Agent, CPA or Tax Attorney who will. Let us know at the Find Advisor Link. Happy Tax Planning
See our 32 page 2016 – 2017 Tax Planning Guide