Measure Your Own Tax Advice Against These Tips

At this time of year, the Internet, newspapers and magazines are filled with sage advice on how to help reduce a tax liability.

As a tax practitioner or accountant, see if you agree or disagree with the following recommendations provide by H&R Block:

  • minimize personal income by converting income into non-taxable income, such as investing in tax-free instead of taxed investments;
  • convert personal spending to qualified deductions, like the new home office rules that affect working at home on a part-time basis;
  • take advantage of the various tax credits, including the child-care, elderly and Social Security withholding credit;
  • apply lower marginal rates by dispersing income to dependents, for example; and
  • make the most of deductions, honestly and efficiently.

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