Looking to cut your tax bill and avoid surprises at tax time? Plan ahead with NextGen Tax Services.
The median family income for 2016 was $59,039, and the Tax Policy Center reports that the average family will likely see a decrease in their tax bill from 15% to 12%. But where does that leave the taxpayer in a higher bracket?
You didn’t hear it from us, but…they’re calling you the biggest losers.
The tax plan implemented in early 2018 will have a major impact on high wage earners in 2018. Believe it or not, your income tax liability will be the biggest bill you will pay in your lifetime, and with the recent changes, that bill is going up. You need effective tax planning.
We believe you need precision when it comes to your tax affairs. Whether single or married, NextGen Tax Services is prepared to walk you through the nitty gritty details and help you identify areas where you can save. Our associates specialize in effective tax planning to keep more money in your pocket using tax minimization and tax deferment strategies.
The catch? These measures can’t be implemented at tax time. They must be employed now. Examples include considering new business ventures that function as a legal tax shelter, deferring income into future years to achieve a lower tax bracket, establishing tax advantaged retirement accounts and optimizing plan contributions, and taking actions that realize valuable medical and charitable deductions. Unlike tax preparation, tax planning is a year-round effort and the sooner you start, the more strategies we can advise to minimize your tax liabilities.