For individuals and families pursuing long-term financial goals, that distinction can make tax planning a year-round part of financial decision-making rather than a once-a-year exercise.
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Why a Tax Return Can Reveal a Planning Opportunity You Missed All Year
But the most valuable planning opportunities often exist before the next tax return is ever prepared.
The Tax Planning Opportunities That Often Exist Between Retirement and Required Minimum Distributions
Understanding this planning window reinforces the important distinction between tax preparation and tax planning.