Warren Buffet may say that he should pay more taxes, but most of the rest of us, who are not billionaires, would rather pay less taxes. Under the law, it is a criminal offense to evade taxes, but perfectly legal to avoid taxes. The best way to avoid paying too high of a tax bill is to plan ahead.
Tax planning can be very complicated when you try to do it on your own. You may do certain things like contribute to a tax-deferred retirement plan or take your home mortgage deduction, but many other events can also affect your tax liabilities.
People with complicated tax lives or who have substantial assets they want to protect would do well to visit a site like CPA Honolulu at Yuda.com, where the can avail themselves of the services of a CPA firm. Such firms can do your books and file your returns, but their real strength comes in tax planning.
On April 15, it is too late to change what has already occurred and you must pay the taxes that you have accrued. If you hire a CPA firm to help plan how you handle the sale and timing of a stock, you could reduce your tax bill. The same thing is true if you decide to sell your house and buy a new one.
Other life changing events like getting a huge promotion that doubles your salary, can have tax consequences that need to be addressed. If you get married or divorced, it will also have an effect on your tax liability. Instead of trying to navigate the turbulent waters alone, hire a CPA, and let him or her steer you into a safe harbor.