3 Ways to Save on Your Tax Bill Going Forward

The tax deadline was July 15 this year, and if you found yourself paying the IRS more than you’d like, it’s time to focus on tax planning. There are moves you can make now to save on taxes in the future.

(Image credit: Getty Images)

Tax planning is all about tax efficiency, making sure the various pieces of your financial plan work together in the most tax-efficient way. Tax planning is especially important in retirement; if you can keep your tax liability as low as possible in your golden years, you can keep more of your hard-earned money in your pocket.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Tony Drake, CFP®, Investment Advisor Representative
Founder & CEO, Drake and Associates

Tony Drake is a CERTIFIED FINANCIAL PLANNER™ and the founder and CEO of Drake & Associates in Waukesha, Wis. Tony is an Investment Adviser Representative and has helped clients prepare for retirement for more than a decade. He hosts The Retirement Ready Radio Show on WTMJ Radio each week and is featured regularly on TV stations in Milwaukee. Tony is passionate about building strong relationships with his clients so he can help them build a strong plan for their retirement.