The year is almost over, and that means now is the time to think about something very serious. That something is taxes, and right now, before the year is over, you still have time to manage your tax situation and to minimize the impact of taxes on your economic freedom.
In the latest episode of the Science of Economic Freedom, “Year-end Tax Planning 2018,” I speak with Mark Doran, Senior Tax Director for Mercer Advisors. Mark has over three decades as a CPA helping families plan, manage and file their income taxes, and that makes him the perfect expert to turn to for guidance on year-end tax planning.
According to Mark, this is the time of year to identify any future financial events that will significantly increase or decrease future years’ taxable income. It’s also the time to come up with steps to minimize your overall tax costs.
In this timely podcast, Mark and I discuss diverse tax issues such as:
With a little more than one month to go before the year is over, now is the time to act. If you wait until after December 31, you will miss out on significant opportunities to better manage your overall tax situation come April 15. And after listening to this episode, you’ll be much better prepared to ask the right questions and implement the right actions for your tax situation.
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