Tax Planning & Consultation

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Tax Planning & Consultation

  • Tax planning is the analysis of a financial situation or plan,from the tax perspective.
  • The purpose of tax planning is to ensure tax efficiency, with the elements of the financial plan working together in the most tax-efficient manner possible.
  • Tax planning is an important part of a financial plan, as reducing tax liability and maximizing eligibility to contribute to retirement plans are both crucial for success.
  • Tax planning encompasses many different considerations, including the timing of income, purchases and other expenditures; the status of the personfiling return; common deductions; the selection of investments and types of retirement plans.