{"id":146,"date":"2017-11-22T14:02:32","date_gmt":"2017-11-22T14:02:32","guid":{"rendered":"https:\/\/myfintree.com\/blog\/?p=146"},"modified":"2018-11-20T09:47:01","modified_gmt":"2018-11-20T09:47:01","slug":"smart-tax-planning","status":"publish","type":"post","link":"https:\/\/myfintree.com\/blog\/smart-tax-planning\/","title":{"rendered":"Smart Tax Planning"},"content":{"rendered":"<h1 style=\"color: #5bb459; text-align: center;\"><a href=\"http:\/\/myfintree.com\/how-to-save-tax.php\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-157 alignright\" src=\"https:\/\/myfintree.com\/blog\/wp-content\/uploads\/2017\/11\/Mft_580x400-300x207.jpg\" alt=\"\" width=\"341\" height=\"235\" srcset=\"https:\/\/myfintree.com\/blog\/wp-content\/uploads\/2017\/11\/Mft_580x400-300x207.jpg 300w, https:\/\/myfintree.com\/blog\/wp-content\/uploads\/2017\/11\/Mft_580x400-360x248.jpg 360w, https:\/\/myfintree.com\/blog\/wp-content\/uploads\/2017\/11\/Mft_580x400.jpg 580w\" sizes=\"auto, (max-width: 341px) 100vw, 341px\" \/><\/a>Smart Tax Planning<\/h1>\n<p style=\"text-align: left;\">There is a common saying that \u201cThere is nothing which hurts more than payment of taxes\u201d we always run behind saving tax but forget to plan it.\u00a0<a href=\"http:\/\/myfintree.com\/how-to-save-tax.php\"><strong>Tax planning<\/strong><\/a>\u00a0is the analysis of one&#8217;s financial situation from a\u00a0tax\u00a0efficiency point of view so as to\u00a0plan\u00a0one&#8217;s finances in the most optimized manner.\u00a0Tax planning\u00a0allows a taxpayer to make the best use of the various\u00a0tax\u00a0exemptions, deductions and benefits to minimize their\u00a0tax\u00a0liability over\u00a0a financial year.<\/p>\n<p><a href=\"http:\/\/myfintree.com\/how-to-save-tax.php\"><strong>Financial planning<\/strong><\/a> is the art of implementing strategies that help you reach your financial goals, be they short-term or long-term. That sounds pretty simple. However, if the actual execution was simple, there would be a lot more rich folks.Tax planning and financial planning are closely linked because taxes are one of the large expense items as you go through life. If you become really successful, taxes will probably be your single biggest expense over the long period. So planning to reduce taxes is a critically important part of the overall financial planning process.Unfortunately, a lot of people fail to understand the importance of tax planning until they make a huge mistake and it costs them to pay unavoidable taxes. The trick is to plan ahead so you don&#8217;t learn this lesson the hard way.The taxpayer has to pay less tax by using tax planning because he is using all available exemptions, deductions reliefs and rebates. All is done within the boundaries of the law.Consult your financial planner at an earliest and discuss following tools which help in proper tax planning and avail maximum benefits.<\/p>\n<ul>\n<li>Timing of income, purchases and expenditures<\/li>\n<li>Selection of investments and maturity time of investments<\/li>\n<li>Filing status<\/li>\n<li>Claiming deductions<\/li>\n<li>Details of exempted income<\/li>\n<\/ul>\n<div id=\"s-share-buttons\" class=\"horizontal-w-c-square s-share-w-c\"><a href=\"http:\/\/www.facebook.com\/sharer.php?u=https:\/\/myfintree.com\/blog\/smart-tax-planning\/\" target=\"_blank\" title=\"Share to Facebook\" class=\"s3-facebook hint--top\"><\/a><a href=\"http:\/\/twitter.com\/intent\/tweet?text=Smart Tax Planning&url=https:\/\/myfintree.com\/blog\/smart-tax-planning\/\" target=\"_blank\"  title=\"Share to Twitter\" class=\"s3-twitter hint--top\"><\/a><a href=\"https:\/\/plus.google.com\/share?url=https:\/\/myfintree.com\/blog\/smart-tax-planning\/\" target=\"_blank\"  title=\"Share to Google Plus\" class=\"s3-google-plus hint--top\"><\/a><a href=\"http:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/myfintree.com\/blog\/smart-tax-planning\/\" target=\"_blank\" title=\"Share to LinkedIn\" class=\"s3-linkedin hint--top\"><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>Smart Tax Planning There is a common saying that \u201cThere is nothing which hurts more than payment of taxes\u201d we always run behind saving tax but forget to plan it.\u00a0Tax planning\u00a0is the analysis of one&#8217;s financial situation from a\u00a0tax\u00a0efficiency point <a href=\"https:\/\/myfintree.com\/blog\/smart-tax-planning\/\" class=\"read-more\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-146","post","type-post","status-publish","format-standard","hentry","category-tax-planning"],"_links":{"self":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts\/146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/comments?post=146"}],"version-history":[{"count":13,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts\/146\/revisions"}],"predecessor-version":[{"id":171,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts\/146\/revisions\/171"}],"wp:attachment":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/media?parent=146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/categories?post=146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/tags?post=146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}