Look out for this on your 2022 tax return

Were you surprised by your tax bill? (A lot of folks were, unfortunately.)

Did you know that you don’t always have to file jointly with your spouse? (And there are some years where it might be better to file separately.)

Do you usually end up taking the standard deduction? (There are some other coordinated moves you might want to consider.)

It’s the seemingly simple (but deceptively complex) things that can make a surprising difference in your tax bill from year to year.

A lot of folks only think about their taxes once per year — when it’s time to file. Which makes sense because taxes can be both stressful and mind-numbingly boring.

However, savvy taxpayers can use advanced tax planning to help optimize their taxes as part of their overall financial planning. Especially when tax laws are in flux as they have been over the last decade.

While tax preparation is all about accurate filing, tax planning is about maximizing potential tax savings in light of your overall goals.

The bad news is that when you’re not coordinating your investing, financial, and tax moves each year, you might be leaving money on the table. Over time, that adds up.

If you’re already working with a professional who helps you look ahead and coordinate your tax moves, you’re miles ahead of many taxpayers. Tax planning can (and should) be part of your integrated, customized financial plan.


“…but in this world nothing can be said to be certain, except death and taxes.”

― Benjamin Franklin


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