No one wants to pay more tax than they have to, even when it comes to estate taxes. Fortunately, with careful planning, you can reduce or even eliminate your estate tax bill.
Tax Planning Strategies Include:
- Increasing contributions to retirements accounts to reduce taxable income.
- Using retirements funds that offer the best tax breaks.
- Donating to charities.
- Making sure contributions and withdrawals to investment or retirements accounts are done at the optimum time to save on taxes.
- Selecting a business entity that provides tax breaks.
- Taking advantage of all appropriate deductions.