“The only way to decrease my taxes is to reduce my income.”
Many Americans feel similarly, but there’s a better way.
You suspect you’re paying too much in taxes, but you make too much money to fall into any of the categories that lead to lower tax payments. It feels impossible to feel optimistic, especially when it seems like you’re paying more than the billionaires paying close to zero taxes.
While you’d like to pay less, you don’t want Uncle Sam knocking on your door for an audit either! Tax forms can be complicated and opaque, making it hard to know if you’re claiming the right amount in deductions and credits. You’re tired of feeling like someone’s taking advantage of you when it comes to taxes.
It’s not that you object to paying your fair share in taxes. The problem is you don’t really know if the amount you’re paying is fair. It might stress you out so much that you delay meetings with your accountant… but the thought of filing late gives you gut-wrenching anxiety!
The good news is that there may be some tax opportunities buried in your tax return, and all you need to do is a little digging. The bad news is that these opportunities could disappear if they aren’t used before midnight on December 31, 2022. When they expire, if you haven’t unearthed them, you’ll still be left with questions about whether you’re paying too much. And whether Uncle Sam will come after you.
Even if these hidden opportunities don’t completely disappear this year, they could by December 31, 2025 when some of the 2017 Tax Cuts and Jobs Act (TCJA) provisions are set to expire.1
However, by capturing the strategies that work for you before they expire, you won’t have to worry about paying too much – or too little – in the eyes of the IRS.
At the end of 2022, many of these opportunities – whether you take advantage or miss out on them – will be locked in for this tax year.
This tax-smart, informative guide is designed for high earners just like you who want to discover if you might be leaving money on the table or in the hands of the IRS.
You may be asking yourself questions like:
- Do I have to make less money to pay less in taxes?
- How can I legally reduce my income tax payment?
- Are there tax-saving opportunities I don’t know about?
- Am I missing anything in the tax code that could benefit me specifically?
- Is there a financial professional I trust to be a sounding board when it comes to my tax game plan?
If any of these resonate with you, keep reading…