Welcome to Straight Talk. We at Legacy Legal and Family Legacy Trainings appreciate your enjoyment of our weekly insights on Mastering the Legacy Hierarchy, Building a Legendary Future and Creating Lasting Wealth and Legacy.
Over the next 10 weeks I want to share some basic tax tips that can be used for year end planning or thinking about your taxes for next year.
Review All Articles in This Series: 10 Tax Tips
TAX TIP NUMBER 10: ENJOY YOUR HOLIDAYS?
By now, doing tax planning is most likely too late. If you have some revenue that you can hold until next year that might help in pushing off tax. If you can take some deductions that can help in reducing your revenue for this year and save some tax. Beyond that, if you waited until now, there is not much that can be done. My tax tip for those who have waited is get an early start on your tax planning beginning with the start of the New Year.
What are your 2014 goals for revenue, for expansion, for sale. Whatever those goals, bring your professionals in early so they can be of the greatest value in structuring activities to take advantage of the laws. Meet regularly, devise a plan, a strategy and a tactics to implement the strategy. Review what is working and not working. Make revisions and provide yourself with the best chance to Master the 5 Stages of Wealth.
We will resume our blog in the New Year. Our website should be re-designed and ready to go to so check it out.
Have a safe and joyous holiday and a terrific New Year.
Our vision is to enhance the way people think and talk about wealth not only in money, but in values, beliefs and traditions. Our mission is guiding people in Mastering the 5 Stages of Wealth. Survival to make ends meet; Security for themselves and their family; Affluence in enjoying the fruits and benefits of the hard work put in to make money; Influencing others through clarity of purpose and vision; and Legacy of how you will be remembered and the impact and difference you can make in the world.
Thank you for being a part of our Straight Talk community. What stage of wealth are you in? What can you do to get to the next Stage?