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How to Reduce Your Taxes

IMAGINE IT IS APRIL 14TH, THE DAY BEFORE TAX DAY. THE SUN IS SHINING BRIGHTLY OUTSIDE.


Richard looks out the window at the beautiful pink cherry blossoms covering the trees that were barren just a couple of months ago. The wind swirls some of the fallen petals across the sidewalk and the street.

Things have improved a lot over the last few months. It was only a few months ago that Richard thought that everything was going to hell in a hand basket.

Well, now, he has a new problem, taxes. He is making money hand over fist now that he has paid down that debt, and he knows Uncle Sam is going to be knocking on his door. He used to do his own taxes, but now things are way too complicated with various investments, partnerships, and business expenses.

He has been delaying and delaying and delaying at getting his records together. He is a horrible record-keeper, and he knows it. Now at the last minute, he is running that fire drill looking for help anywhere he can find it. He hopes that the CPA he has found is worth the thousands of dollars he is paying her….

For most Americans, tax preparation starts by bringing a box of receipts to a tax preparer or accountant. Then, the CPA prepares the return based upon the box of receipts. Others prepare their own income tax returns, using the same “shoe box” process of adding up their income and deductions a month before the IRS deadline and paying the tax. Without professional help, many people are not sure they even know the right questions to ask to reduce their own taxes.

While this is based on a true story the information about the person involved has been left out to protect his privacy. The investment results described in the story are not an indication of future performance and are not intended as investment advice. Past performance is not a guarantee of future performance.


There is a better way. This article provides tactics and strategies to reduce your federal and state income

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