Tax Planning for Beginners: 6 Tax Strategies & Concepts

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Tax Planning for Beginners 6 Tax Strategies
Concepts Tax planning is the research and
understanding of a person's financial situation
to maximize tax breaks and minimize tax
liabilities efficiently. Tax rules can be
complicated, but taking some time to understand
and use them to your advantage can change how
much you end up paying when you file. Here are
some business tax planning and tax strategy ideas
to know before you make your next money
move. Know what tax records to keep Taking the
standard deduction vs. itemizing Tax methods to
shelter income or cut your tax bill Keep an eye
on famous tax deductions and credits Tax planning
forms with understanding your tax bracket The
dissimilarity between tax deductions and tax
credits