Tax Goals for 2023
Whether you are an individual or a business, taxes are a large part of your life. How you approach your taxes can determine how much you owe and whether you may have issues with the IRS and state tax authorities. First, you should try to maximize your amount of deductions and pre-tax spending. For example, you can contribute to a health savings account from pre-tax dollars. In addition, all your retirement contributions are from pre-tax dollars. Maximizing these contributions can help minimize your tax burden and enhance your savings goals. In addition, your employer may match your retirement contributions. Second, you should strive to get organized for filing your 2022 tax return as early as possible. If you wait until the last minute, you will be forced to rush. Haste…