Understanding the advantages and opportunities of tax planning can help you accumulate assets in a more productive manner.

The complexity of the tax landscape continues to increase. The 2009 American Recovery and Reinvestment Act has made numerous tax breaks available once again. The new law provides incentives for first-time home buyers, for increasing energy efficiency in homes, and tax considerations for parents and students paying for college. It is advantageous to capture these tax benefits while they are available.

See if you can minimize your income taxes today. It's not what you earn, but rather what you are able to keep that counts.

• Evaluate your mix of qualified retirement plan assets (401(k), IRA, etc.) and other tax-sheltered investments (real estate, annuities, etc.) to ensure you are maximizing potential tax benefits, while maintaining flexibility with your assets
• Plan capital gain/loss transactions to capture and strategically utilize capital loss carryover.
• Ensure your investment vehicles will not cause adverse tax consequences in the future, specifically during retirement or at death.
• Determine the most tax efficient method of accumulating assets.
• Interpret and utilize current tax laws and future changes to benefit your own personal situation.

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