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Myth:
"Loopholes"
in the law provide tax advantages only for
the rich.
Reality:
The law is the same for everyone. There are no
"special tax secrets". Some strategies are
complex, expensive and tie up assets for years and are
not all practical or useful for everyone.
The "Secret" is
finding the right advantages for your unique situation
and taking action.
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Shift income among family members
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Control the year income will be taxed
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Shift deductions to the year of greater
benefit
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Select investments with favorable tax
treatment
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Consider
different business forms and various trusts.
-
Consider
estate and property tax when creating your
plan.
Tax laws are complex. Unless your financial affairs are extremely
simple, chances are you could benefit from at least occasional assistance in tax planning
from a professional. |
