TAX PLANNING BASICS
There is one thing that is always a part of your financial planning—tax! Everything else may come and go, but your annual tax liabilities are perpetual.
However, there are various ways you can be smart about tax payments and save a little money for yourself. This becomes even more important if your income increases every year and you end up paying a large sum as tax, all in one go. Wouldn’t you rather save your hard-earned money than let it all slip away in tax?
Yet, most people end up paying more tax than necessary. This is because not enough of us are aware of tax deductions and exemptions. Ergo, it is always better to be better informed and plan your taxes.
Let us familiarize you with the various ways you can reduce the amount of tax you pay.