| Every year we dread April 15th. How much | | | | the current tax papers and see which |
| money are we going to owe this year? If you | | | | adjustments you may be bale to take. |
| plan ahead then when April 15th comes around | | | | You can lower your adjusted gross income by |
| you may not be asking yourself that question | | | | taking a few adjustments to your income. You |
| anymore. If you want to pay low tax in April is all | | | | can have more money taken out of your taxes |
| about tax planning. The process is not difficult and | | | | during the year and at the end you will pay lower |
| if you have never done any type of tax planning | | | | taxes or in some cases get a refund. Another |
| before you can still work some magic. The only | | | | way to increase your chances of paying low |
| alternative is not to pay tax and that is 100% | | | | taxes is by utilizing tax credits. You may be able |
| illegal. | | | | to take some tax credits from such as college |
| You may have read a lot about tax planning if | | | | credits, retirement savings and if you are a foster |
| you want to play lower taxes. But a little bit of | | | | parent or if you have adopted children, there are |
| time is well worth the savings you will see in April. | | | | tax credits to be had. |
| It is recommended that if you are a company or | | | | Try to stay away from additional taxes such as |
| incorporation then you seek the advice of a | | | | any early withdrawals from IRA's or 401K |
| professional. The most recommended that you | | | | retirement plans. If you have children, you are |
| adjust the gross income on your paycheck. You | | | | entitled to an Earned Income Credit, but be |
| can choose to lower your tax rate and pick up | | | | careful, this amount is often deducted from your |
| other tax credits. It is important that you read | | | | payments so it is not going to guarantee you a |
| some of the newer tax laws and see what | | | | refund. There are so many ways to lower your |
| deductions that you may be able to get. | | | | taxes that it may be wise to consult an |
| Thousands of people every year lose out on | | | | accountant before you start taking off deductions. |
| paying lower taxes because they don't know that | | | | Ask a professional or do some research online. |
| they are entitled to deductions. On the Form 1040 | | | | There are plenty of places where you could go to |
| on lines 1 through 34 there is a list of deductions | | | | find out how to play low tax on your income tax. |
| that you may be allowed to take. Take a look at | | | | |