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"...but, in this world, nothing is certain except death and taxes." - Benjamin Franklin

Tax Planning 

Tax Planning 

Tax planning involves guiding individuals and small businesses to minimize their tax obligations within the IRS tax code. Common strategies include contributing to tax-advantaged accounts like IRAs, 401(k)s, 529 College savings plans, and HSAs (Health Savings Accounts), utilizing deductions and credits such as the Child Tax Credit, and employing techniques like tax gain harvesting and tax loss harvesting. Timing income and expenses, managing taxable distributions from qualified retirement plans are also effective methods. More advanced approaches encompass investing in rental real estate, utilizing 1031 exchanges, and opportunity zone investments to defer capital gains.

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