ESTATE PLANNING INSIGHTS By Ethan R. Okura
It’s that time of the year again. No, I’m not talking about Valentine’s Day. Not even President’s Day. I’m talking about taxes!
You have until Monday, April 15, to file your federal individual income tax return. But if you’re like many people, you will probably be filing for an extension, which will give you until Oct. 15 to submit it. However, usually about now, people begin thinking about their taxes and I start getting questions about how to save on paying taxes. Unfortunately, there isn’t much that can be done now to affect your 2018 income tax return.
In this month’s column, I’d like to discuss one thing you can do even after the close of 2018 that might help you lower your tax bill and, as a bonus, get you to save more for retirement.