SimplyCPA
Quick Sheets/TCP/Individual Tax Planning Strategies

TCP — Quick Sheet

Individual Tax Planning Strategies

Read time: ~5 minutes

One-minute revision

  • Income deferral / deduction acceleration: shift based on expected bracket changes
  • Bunching: concentrate itemized deductions in alternating years to beat the standard deduction periodically
  • Long-term capital gains/qualified dividends taxed at preferential rates — holding period planning matters
  • Avoidance (legal) vs. evasion (illegal) is a distinct, testable ethical line