1. Take a multiyear approach
Tax planning is looking after three or five years, you can see trends of upcoming will be an increase or decrease an income. The different taxes at different levels that keep by phone and refer when talking to clients.
2. Take a multiyear approach
The income is high in this year and expect to increase in upcoming years, because career on a roll will better accelerate the deductions can offset some higher earnings through charitable contributions, selling securities or prepayment of income tax at a loss.
3. Prove you’ve met the mandate
You need to prove a covered by a health insurance plan that meet standard Afforadable Care Act or pay a penalty and submit a tax return without penalty, the crux plan called individual mandate.
4. Fewer estate taxes, but watch the state tax
Now fewer people may pay higher estate-tax exemption and many professional are rethinking the traditional advice. The thumb rule is used to giving away in your lifetime, but the real advantage is to keep things in estate.