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    Here are some of the tax-saving strategies:

    1.Splitting income among several family members or legal entities in order to get more of the income taxed in a lower bracket.

    2.Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.

    3.Deferring tax liabilities through certain investment choices such as pension plans, contributions, and other similar plans.

    4.Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities.

    5.Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.

    SHARE some more information about Tax Planning Service.
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    (Original post by jane21august)
    Here are some of the tax-saving strategies:

    1.Splitting income among several family members or legal entities in order to get more of the income taxed in a lower bracket.

    2.Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.

    3.Deferring tax liabilities through certain investment choices such as pension plans, contributions, and other similar plans.

    4.Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities.

    5.Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.

    SHARE some more information about Tax Planning Service.
    Note: I am not a tax specialist and the following does not constitute professional advice.

    1. May be fine if there is commercial substance, excessive payments to family members or other related parties are not deductible.

    2. This is fine if legitimate but income shifting will depend on the tax base and could be fraudulent so care needs to be taken.

    3. Yep fine.

    4. Yep fine, e.g. gilts are totally exempt and qualifying corporate bonds are CGT exempt.

    5. Difficult but very much fine.
 
 
 
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