TAX

Tax planning considers the tax implications of individual, investment, or business decisions, usually with the goal of minimizing tax liability Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts. Although decisions are rarely made solely on their tax impact, you should have a working knowledge of the income or estate tax issues and costs involved.