Last month, Michael Piershale, president of Piershale Financial Group, appeared on Chicago’s WGN-TV “Your Money Matters” to discuss tax planning tips for viewers to consider before April 2014. Michael stressed that even though the tax season is months away, taxpayers should acknowledge and understand their financial situation to allow for significant tax savings before it’s time to file.
During the segment, Mike he offers specific tips such as declaring income when your tax bracket is low and postponing incurrence of income tax liability whenever possible. Click on the video below to watch the full segment:
During the segment, Mike he offers specific tips such as declaring income when your tax bracket is low and postponing incurrence of income tax liability whenever possible. Click on the video below to watch the full segment:
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| SOLID PLAN: Michael talks tax planning on WGN. |
In addition, there are some other important points not touched on in this broadcast:
Check back to the blog often for more tax planning tips.
- Start the process early. When you take the initiative to start your tax planning a few months before the end of the year, it offers significant time to implement tax strategies effectively.
- Organize records. Store all of your records in a secure place, and when it’s time to file you’ll know exactly where to find them.
- Beware of tax changes and new laws. Changes might come in the future, so you must be prepared to see how the new laws will affect your tax picture.
Check back to the blog often for more tax planning tips.
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