General Income and Sales Tax Planning
It has been said that Warren Buffett, one of the world’s wealthiest men, pays less in income taxes than his secretary. Regardless of whether this is actually true, it is possible. The trick is to be deliberate and strategic about utilizing legal tax planning strategies well in advance of your tax-filing deadline. Ask us about IRA strategies for the self-employed and family member employees. The sales tax deduction may be phased out in 2012 unless Congress extends it. So, if you are building a home, for example, you might want to have your contractor spec all the materials and buy them yourself to earn the deduction.
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