In this episode, Jeff discusses:
- How does tax planning work?
- Tax planning in advance can save you money
- Jeff's tax strategies he uses with clients
Key Takeaways:
- In tax planning, an individual's or a business's financial situation is aligned with their financial goals by leveraging the tax code, and sometimes by considering unique and complex situations.
- Planning your taxes throughout the year is the best way to avoid tax surprises in the last month. Also, getting tax advice prior to setting any goals/plans involving money is very important because your tax situation will be affected.
- You can reduce your taxes by hiring your kids, and putting money in your health saving account (HSA) and retirement account.
“Tax planning is more than just spending money. It is about setting up strategies to put more money back in your pocket while paying the least amount of money on taxes." — Jeff Hockett
Connect with Jeff:
Website:https://www.hocketttax.com/
Email: jeff@hocketttax.com
Twitter:https://twitter.com/taxgamecoach
Facebook: https://www.facebook.com/hocketttaxandpayroll
YouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0
LinkedIn:www.linkedin.com/in/hocketttax
Instagram: https://www.instagram.com/hocketttax/
