Despite all of the news we have heard about tax simplification, the current tax code still remains a complex combination of regulations, statutes, rulings and forms that are written primarily in highly technical language and cover thousands of pages.
Each year, several of the sections that calculate for certain information taxpayers report get adjusted. Rule changes can often be sorted by eligibility and the amount of exemptions, deductions and tax credits available for taxpayers can be phased in and out by formulas.
Most taxpayers are best served by using a qualified tax professional to either prepare or review their tax returns. A financial planner can help by providing tax planning strategies that often might be overlooked.
Over the next 6 days we will outline 6 potential tax strategies you can use to save money!