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Deferring income, qualified charitable distributions (qcds), retirement contributions, tax loss harvesting, bunching charitable deductions, and health savings accounts (hsas) Tax planning is a crucial process that helps individuals and businesses slash their tax bills by making the best use of all available tax deductions, credits, and exemptions Tax planning is much more than just filling out your 1040 form on time each year
When you’re earning a regular income, you’ll want to keep as much of it as you can while still doing your duty of paying taxes
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Tax code is vast and complicated
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