Tax Planning Guide

We have a long-standing tradition in this country of tax aversion. Nothing riles us up more than the topic of taxes. Of course, not pay is not an option. I don’t recommend tax evasion as it generally doesn’t work out well.

Tax avoidance, however, is a perfectly legal, respected, annual right of passage for all of us. Tax planning is the best way to use the tax code in your favor and lower your tax bill each year.

Smart tax planning requires some forethought. You can’t roll into April each year, slap your tax forms together, and expect the lowest tax bill and biggest refund ever. By then it’s already too late.

Taxes will be the biggest expense in your life. You’ll need to plan in advance for real tax savings. A health financial plan combined with smart tax planning throughout the year is the best way to keep more of your money working for you. Understanding how the changing tax code affects your financial decisions before you make them is the best way to plan for and save on those costs.

But make sure you don’t pile up the tax savings this year, at the expense of next year. A proper tax strategy will lower your taxes throughout your life.

To that end, I put together this collection of resources you might want to know before starting that process, including some things you might overlook, and other helpful tips that could save you money.

2014 Tax Guide

File Your Taxes

Income

Taxable Investments

Retirement

Helpful Tax Tips