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What happens to your tax liability with proper financial planning?
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your tax liability through proper financial planning.
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Answer 1

Proper financial planning can reduce your tax liability by utilizing strategies such as deductions, credits, and tax-advantaged retirement accounts.

Step-by-step explanation:

With proper financial planning, your tax liability can be reduced.

By utilizing strategies such as deductions, credits, and tax-advantaged retirement accounts, you can lower the amount of taxable income you have, thereby reducing your tax liability.

For example, contributing to a 401(k) retirement account or deducting expenses for business use of your home can lower your taxable income, resulting in a lower tax liability.