Turn This Tax Season into a Success
For many, taxes are a stressful responsibility, causing those that manage their own tax return to prepare and file their income tax as quickly as possible to get them over and done with fast. However, this method of filing taxes can lead to a multitude of missed opportunities, leaving you with less of your earned income than you realize.
To make sure you get the most out of your earnings, Tax Services LLC offers professional tax planning services to help you keep more of your income and pay less to the IRS. Contact us today to get started!
What is Tax Planning?
Tax planning is the art of reaching tax efficiency by utilizing a variety of legal techniques to keep your tax burden as low as possible.
The most notable aspect of tax planning is that it turns the annual event of tax filing into a year-round, far-reaching process. Tax planning takes into account nearly every part of your finances and puts yourself in the most favorable tax situation.
Claiming the Right Credits and Deductions
Credits and deductions are a great way to keep your tax burden low and pay less. Deductions are, as the name implies, expenses that are deducted from your total taxable income for the year. Credits, on the other hand, are dollar-for-dollar deductions that directly lower your total tax bill.
Our team sits with you to identify all opportunities for savings. We help you decide whether you would benefit more from standard or itemized deductions as well as which credits you qualify for.
Saving for the Future to Save Money Today
A big part of tax planning involves lowering your total taxable income. Much of this is done through retirement plans such as 401(k)s and IRAs. Money invested into plans such as these are considered deferred income, which means that money is not counted toward your total taxable income for the year, as it isn’t taxed until withdrawn at retirement age.
Professional Tax Planning Services in New Iberia
Whether you’re a business owner, a private contractor, or a regular working individual, everybody can benefit from strategic tax planning. Contact Tax Services LLC today to schedule a consultation with our team and find out how tax planning saves you money and benefits you in the long run.