Tax planning is not the same thing as tax preparation, yet both are equally important to take into consideration. At Randee Abramson CPA, our complete portfolio of tax services for individuals can help you plan for the future, identify potential tax savings, minimize your tax liability, and create a sustainable budget that allows you to both save and enjoy your money today.
As with most things, the earlier in life that you start your tax planning, the better off you will be in the long run, but that does not mean that it is too late to take action now, no matter what your age, tax bracket, or status.
Through tax planning, we take a look at a number of different scenarios to find the approaches that will best suit your personal situation and reduce your overall tax liability. Tax laws are continuously changing, and that is why having a credible, professional CPA in your corner who is looking out for your best interests is the way to proceed.
There are many different ways that we can use tax planning strategies to work to your advantage, including:
- Purchasing a home or investing in real estate
- Investing in or selling assets
- Contributing money to legitimate charitable organizations
- Gifting money, assets, or property to family members
- Utilization of a home office
- Shifting income or expenses from one year to another
- Using investments to produce tax-exempt income
- Deferring tax liabilities through pension plans
These are just a few of the numerous tax saving strategies we can use when pre-planning before the time of tax preparation.
Many people file their taxes each year without taking advantage of the many different strategies and deductions available to them, giving the IRS more of their money than necessary. Please do not let that happen to you. Randee Abramson CPA offers tax planning for individuals to help you keep as much of your money as possible. Call today for a free consultation.