Chapter 26: Individual Tax Planning Opportunities

In this section

• Timing Strategies: Deferral vs. Acceleration of Income
  Learn how to strategically defer or accelerate income by analyzing changing tax rates and evolving standard deductions, optimizing your annual tax liabilities and maximizing financial flexibility.
• Mitigating AMT Effects Through Tax Preference Management
  Explore strategies to reduce Alternative Minimum Tax liabilities by identifying major preference items and recalibrating deductible expenses, deferrals, and timing of transactions.
• Use of Tax-Advantaged Accounts (HSAs, FSAs, Retirement)
  Comprehensive guide to leveraging tax-advantaged accounts—including HSAs, FSAs, and retirement plans—to reduce taxable income, maximize savings, and strategize for long-term financial growth.
• Harvesting Capital Gains or Losses
  Discover strategies for effectively harvesting capital gains or losses, including the netting approach, short-term vs. long-term considerations, and year-end triggers to optimize tax outcomes.