Tax Planning Should Be Active, Not Reactive

We have a huge problem in America - a common problem we all share. We have an absurdly complex tax code. Not only does this complexity lead to significant inefficiencies, but it also leads most Americans to ignore taxes until the year is over. This is further exacerbated by the fact that many financial professionals and tax planners do not insist on looking at taxes from an active point of view. Instead, taxes are addressed reactively. This leads to significant inefficiencies, often a higher tax bill than necessary, and worst of all, many Americans sorely miss the tax planning strategies that could benefit them over the long term. 

Today we discuss a number of considerations to help you better understand the opportunities that may exist for you, why these opportunities may offer a great benefit to you, and we also clear up some common misconceptions.