Having tax regrets? Here are 5 ways to pay less and save more on your taxes
(BPT) – Most of us know the feeling: Tax season can be a frustrating and stressful time. You have to gather lots of documents, remember all the changes in your life over the past year that might affect your return, and file the required paperwork before tax day rolls around. It’s worth it though to save more on your taxes.
And while you do all of that, there’s always that nagging feeling: Did you take advantage of all the deductions and credits the IRS has to offer? Is there more you can do to prevent taxes from eroding the value of your investment portfolio and eating away at your income? Are you prepared for the changes that are coming due to the new tax law?
Like thousands of others, you might be experiencing a “tax hangover,” that sense of regret that you overlooked some fine detail, that you could have paid less and ended up with more money in your pocket.
The truth is: Your taxes shouldn’t be top of mind just once a year. Tax planning is an important part of overall financial planning, and there are things you can do now to avoid having another exhausting experience next year.
The best place to start is to set up a meeting with a financial planner who can work with you to optimize your taxes and better integrate them into your financial plan.
“Figuring out the best approach to your taxes can be challenging, and the new tax law won’t View full post…