You can reduce your taxes by using a retirement plan. Some possible options include a traditional IRA, which can reduce your gross income amount (if qualifications are met). The remainder going to the IRA would be invested and tax-deferred until retirement.

Another plan to reduce tax liability is the 401(k). This may be more popular if you’re a larger business and you may contribute more money to a 401(k) plan than a traditional IRA.

Tax planning is all about being prudent. You’ll want to brainstorm how to achieve the following goals when discussing retirement planning with our tax experts:

  • Getting out of debt
  • Having an emergency reserve
  • Developing a financial plan
  • Discussing how to make more money
  • Minimizing investment fees

Our team wants to get you on the right path as soon as possible. Discuss tax and retirement planning with us now.