Tips to Lower Taxes and Get Finances in Order

In 2012, Medical Economics suggests several strategies you can take advantage of to lower what you owe and get your finances in order. The main tips are as follows:

• Current tax law changes might allow you to lower your income taxes and estate taxes
• Be sure to update your estate planning documents for IRAs or trust accounts
• Sell some of your investments so you can reduce your capital gains taxes
• Deduct the cost of equipment that you purchase for your practice for additional tax savings.

See David J. Schiller, Tax-related Moves to Make in 2012 , Medical Economics, Mar. 2012. 

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.