How to Legally Avoid Taxes, Save Money, and Prepare for 2022! - Cabot Wealth Network

How to Legally Avoid Taxes, Save Money, and Prepare for 2022!

Get details about strategies for saving on your taxes, when you read the October 2021 issue of our Magazine, just released!

Cabot Money Magazine October 2021

In 1789, Benjamin Franklin said, “Nothing is certain except death and taxes.” The good news is that there are some things we can do, such as healthy eating and exercise, to attempt to defer the first event, and there are actually several steps we can take to defer—as well as reduce—our taxes.

I hate thinking about taxes, but if you’ll allow me another Franklin quote, “If you fail to plan, you are planning to fail,” is more critical today than ever—especially in light of the proposed tax hikes awaiting us in 2022.

But first, let’s look at the following graph from Fidelity. I first introduced it last fall, and here is the updated version.

These are the results of Fidelity’s research for the past 20 years on how you can save on your investment taxes by tax-loss harvesting, managing capital gains, managing distributions and tax-smart withdrawals.

value from investing techniques

Source: Fidelity.com

As you can see, the earlier your planning begins, the faster your savings accumulate. But it’s also obvious that, even if you started just in the past few years, you would have still saved on your taxes. So, the lesson is—it’s never too late to begin some tax-saving strategies!

Read the feature article in this month’s magazine now to get everything you need to know about saving money on your taxes, including a summary of 2021 tax changes that might be affecting you now:

In addition to 2021’s tax changes, you should know about other ways to maximize your income and minimize your taxes—all covered in this article, including:

And when you read this article in the October 2021 issue of our Magazine, you get details on proposed 2022 tax changes that might affect you—here’s how:

All these proposals are still pending, as part of Joe Biden’s proposed American Families Plan for 2022—while we don’t yet know how much, if any, of these proposed new taxes will actually go into effect, it never hurts to plan ahead to being to minimize any hurt. And you’ll find out how to act when you read this article now!

In this feature article in the October 2021 issue of our Magazine, you’ll learn all about tax and investing strategies that can help you make and save money. Read this article now, and get everything else in this issue of our magazine, too, including:

This latest issue of our Magazine is ready for you to access now, to discover how to save on taxes and prepare for 2022… and much more. Read it now!

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