A major goal of tax planning is minimizing federal income tax liability.
This can be achieved by:
- Reducing taxable income through income deferral
- Diversifying tax liabilities across multiple types of accounts
- Deduction planning
- Investment tax planning
- Year-end planning strategies
**This material has been provided for general informational purposes only and does not constitute either tax or legal advice. Investors should consult with a tax or legal professional regarding their individual situations.