Tax Strategies

At Independent Financial Services, we take tax planning seriously and deliver tax strategies to reduce the amount of our clients' income that goes toward taxes and related fees. An effective plan takes federal, state, and local laws into account, as well as the many factors affecting your unique financial situation. As your financial advisor, we may cover several strategies for reducing the tax amount you pay:

Tax Credits and Deductions

While both positively impact the money you save, credits reduce the tax you owe, and deductions reduce the amount of taxed income. There is a wide variety of tax credits and deductions that reduce the amount you owe in taxes:

• Business credits and deductions, such as a research credit, an electric vehicle deduction, and expense deductions.
• Homeowner credits, including an energy efficiency credit and a low-income housing credit.
• Family and dependent credits, such as the Child Tax Credit and the Adoption Credit.
• Education credits and deductions, including the American Opportunity Credit and Lifetime Learning Credit, and the Student Loan Interest Deduction.

We'll help you identify the credits and deductions that pertain to your situation.

Retirement Accounts, Employee Benefits, and Health Savings Accounts

Why be penalized twice for the money you've set aside to protect your existing and future well- being. The amount of income that qualifies for taxation can be reduced when you make contributions to 401(k) or 403(b) plans, for example.

Tax Planning From Financial Advisors

At Independent Financial Services, we are well-versed in municipal bonds, long-term capital gains, and several other strategies that keep your hard-earned money in your hands. Contact us today at 800-261-7822 for reliable tax strategies and many other financial services.