Unless you requested a tax filing extension, you’re probably under the impression that tax season is over – you can sit back and relax until 2023. Not to burst your bubble, but if you want to be more tax efficient, you couldn’t be more incorrect. In fact, once you have your 1040 return in-hand, the hard work is just beginning. In this episode of The Agent of Wealth Podcast, host Marc Bautis digs deeper into the 1040, uncovering which areas you should focus on for improving your tax savings.

In this episode, you will learn:

• Reasons why tax planning should be done year-round.
• The key sections of a tax return to look at when performing an analysis.
• Potential tax-saving strategies – like Roth conversions – and investment tools – like ETFs.
• Planning opportunities to look out for while conducting a review.
• And more!

Resources:
Episode Transcript & Blog | (For Clients): How to Upload Your Tax Return to Your Vault | Bautis Financial: 7 N Mountain Ave Montclair, New Jersey 07042 (862) 205-5000

Timestamps:
0:44 - Why Tax Planning is Important
2:13 - What Your Tax Return Can Tell You
3:20 - What is Your Marginal Tax Rate / Tax Brackets
6:35 - Itemizing vs. Standard Deduction
8:32 - Investment Income and Capital Gains and Losses Review
13:29 - Other Reasons to Review Your Tax Return