A few strategies we use to help maximize our clients savings are: 

• Spreading income among several family members or legal entities in order to get more income taxed at a lower rate. 
• The shifting of income or expenses from one year to another so they are taxed at a lower rate. 
• Deferring tax liabilities by investing in pension plans, contributions, and other similar plans. 
• Producing income that is tax-exempt either from the federal government or from the state government or from both taxing entities. 
• Structure your money to pay for things you enjoy, such as a vacation home, to get tax deductions. 

Golden Tax Relief helps clients meet their financial goals and retain as much income as possible through effective tax planning. 

Have Questions? Golden Tax Relief is Here to Help! 

1. Are GTR tax planning strategies illegal? – The purpose of tax planning is to reduce taxes as much as possible in a legal and ethical way. However, tax planning strategies are illegal if they do not adhere to the law. Strategies should be based on legislation and judicial rulings on tax exemptions, debates, relief, and deductions. 
2. Are tax planning fees deductible? – Fees paid for tax planning are miscellaneous itemized deductions on the year of payment, and therefore cannot be deducted from the taxpayer. Fees for tax planning include electronic filing of returns, tax publications, and software programs for planning taxes. 
3. Is tax planning legal? – Taxpayers can arrange their finances in an efficient way to reduce their tax obligations under the law. Tax planning is legal because it involves organizing financial conduct in an efficient way. 
4. Is tax planning effective? – Taxes can adversely affect an individual’s income, resulting in financial instability. By reducing tax liabilities through tax planning, this can be avoided. Tax planning is effective because it uses benefits and exemptions provided by the law to minimize tax bills. 
5. What are tax planning strategies? – A tax planning strategy is a method by which individuals and businesses defer current tax liabilities to the future, freeing up more funds for personal use or investment. The main focus of Golden Tax Relief tax planning is to increase income, reduce deductions, and lower tax rates. 
6. How is tax planning different from tax evasion? – Tax evasion is the deliberate act of avoiding taxes by an individual or entity, while tax planning is the process of ensuring a person or an entity pays the lowest taxes possible. Tax evasion is illegal, while tax planning is legal. In contrast to tax planning, tax evasion is a criminal offense. 
7. Who needs tax planning? – Individuals and business owners need tax planning to reduce tax liability, increase savings, and productivity. 
8. Why is tax planning necessary? – Using Golden Tax Relief for your tax planning will allow you to build your personal finances and save more money for investment. Also, it minimizes the amount of income tax payable every year, thereby increasing retirement savings. By maximizing deductions and gaining greater control of taxes, effective tax planning helps companies achieve their financial goals. 

Using effective tax planning, Golden Tax Relief helps clients meet their financial goals and retain as much income as possible. You can contact us for a consultation or if you have questions about your tax plan.  

Do not hesitate to contact us at (844) 229-8936! You may also reach out to a representative via text via the chatbox at the bottom of this page or by email to schedule a consultation. 

We look forward to hearing from you and wish you Peace, Protection, and Prosperity as you go forward with your financial endeavors.