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Financial Plan Assignments

Your assignment is to understand both the taxes that you paid last year and the taxes that you will pay this year. Get a copy of last year’s income tax form. What form did you use (e.g., 1040A, 1040EZ, etc.)? Why did you use that form?

Think about what you are going to do differently this year in regard to your taxes. What form are you going to use this year? What additional strategies can you use to legally reduce your tax payments?

Finally, what can you do to reduce your taxes now and in the future? What strategies are you going to use? What can you do differently to reduce the taxes you need to pay?

 



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