Advanced Tax Reduction is Tax Planning but tax planning is an overly used term we see today. Keep reading below to find out how reducing your taxes should be one of your top priorities.
If you are a business owner: Tax Planning is the key to understanding the marginal tax rate of your business over a period of years.
If you are retiring: Tax planning is the key to understanding the tax dependent positions that you can take or avoid year after year, and allow for succession of assets as part of the overall plan.
If you are an individual or married couple: Tax planning is the thought process that links you toward goals for retirement, missed tax savings, investment decisions, and maximizing your refunds or minimizing your tax debts year after year. There are three types of individuals in the tax filing process:
1) The Tax Crusher: These taxpayer’s avoid tax discussions at all costs. Those that limit their presence in a tax office, or time spent on taxation topics - We can still help by tax tips, and availability to Arrow Exchange Tax Solutions year round only when a relevant topic comes up that needs our assistance.
2) The Dollar Saver: This individual will use their refund as a way to save for large purchases, and boost their savings year after year.
3) The Mitigator: These taxpayers want to reduce their taxes paid each year, and pay in as little during the year as they can, maybe unaware of the tax impact, but hope that the savings are there when it comes time to file, and want to know how it's done.