Which of the following tax planning strategies could Joseph consider to reduce his future tax bills?
A) Carefully track and maintain records for all itemized deduction categories to insure he is maximizing his itemized deductions.
B) Establish a home equity credit line to finance other consumer credit,such as an auto purchase.
C) Contribute as much as possible to a tax-deferred retirement account,such as his 401(k) .
D) Invest in municipal bonds to receive tax-exempt income.
E) All of the above would be strategies available to Joseph to reduce his future taxes.
Correct Answer:
Verified
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