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Be proactive in tax planning to minimize liabilities from "summary" of The Tax and Legal Playbook by Mark J. Kohler
It's essential to take a proactive approach when it comes to tax planning if you want to keep your liabilities to a minimum. Waiting until tax season is upon you is not the best strategy. By then, it may be too late to implement any significant changes that could lower your tax bill. Planning ahead allows you to make informed decisions that can have a real impact on the amount of taxes you owe. One key aspect of proactive tax planning is staying informed about changes to the tax code. Tax laws are constantly evolving, so it's important to stay up-to-date on any new developments that could affect your tax situation. By being aware of changes in the law, you can adjust your financial strategies accordingly and take advantage of any new opportunities to save on taxes. Another im...
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