Individual Tax Planning
Tax planning is the analysis and arrangement of a person's financial situation to maximize tax breaks and minimize tax liabilities in a legal and efficient manner.
Tax rules can be complicated, but taking some time to know and use them for your benefit can change how much you end up paying (or getting back) when you file. Some key tax planning and tax strategy concepts are:
- Understanding what federal tax bracket you’re in
- The difference between tax deductions and tax credits
- Deciding whether to itemize or take the standard deduction
Here are some additional tax planning strategies to shelter income or cut your tax bill:
- Adjust your W-4
- Put money in a 401(k)
- Put money in an IRA
- Open a 529 account
- Fund your Flexible Spending Account (FSA)
- Use Dependent Care Flexible Spending Accounts (DCFSAs)
- Maximize Health Savings Accounts (HSAs)
There are a vast number of deductions and credits available, and they all have their own rules about who’s allowed to take them. We can help figure out which deductions and credits you’re eligible for.
To speak to a local tax expert at TaxAssist Advisors, call (770) 459-1052 or inquire online here to book your free, no obligation consultation.
Join us in three easy steps
Get in touch
Arrange a free consultation in person or via video with your local advisor. It’s an informal chat to get to know you and find out more about the help you are looking for.
Chat to an expert
We clearly explain the support available to you and are happy to act as business advisors in order to help you grow your business.
Get a fixed quote
Our fees are fixed and tailored specifically to each individual's needs, so that you only pay for the level of support and services that you require.
Sign up for our newsletter
Receive important tax news suitable for business owners and self-employed professionals.
Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Advisors manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your advisor, then perhaps it’s time to make the switch?
Local business focus
We specialize in supporting independent businesses. Each TaxAssist Advisor runs their own business, and are passionate about supporting you.
Come and meet us
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accounting firm. You can visit us at any of our locations, meet with us online through video call software, or talk to us by telephone.
Switching is simple
Changing accounting firm is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.
See how TaxAssist Advisors can help you with a free, no obligation consultation