Forming Your Personal Tax Strategy .pdf
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Forming Your Personal Tax Strategy
What is a Personal Tax Strategy? Let's break this term down and start with strategy. A strategy is
a systematic plan of action intended to accomplish a specific goal or purpose.
The formula looks like this:
"Personal Tax" + "Strategy" = a plan of action to permanently reduce your taxes.
Of course, most people are all for permanently reducing their taxes. What is typically missing in
their quest to do that is the strategy piece. And it's the strategy piece that produces the maximum
The strategy piece helps focus our actions and thoughts every single day on permanently
reducing taxes. Don't worry! It doesn't have to take hours every day to get maximum results from
your personal tax strategy. Instead, your strategy becomes a part of your daily routine.
Remember that every transaction you do can have an impact on your taxes. Your tax strategy
helps you think about your daily transactions in a way that gets you to your goal of permanently
reducing your taxes.
Where Do You Start? Think about planning a vacation. Let's say you are going to Hawaii. When
you go to book your ticket, you need to know where you are departing from, right? This is your
The same applies to a personal tax strategy. You must know where you are starting. In your
personal tax strategy, this means you must know your current financial position.
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