Many people don’t realize that sound tax strategies are part of a solid personal financial plan. So what’s practical and effective for some taxpayers may not be the best strategy for others. However, regardless of your financial goals, it’s important to look at possible tax strategies now, so you can generate tax savings for the entire year. Here are some of the best ways you can save tax dollars this year.

1.  First,  look  at  the  big  picture. Establish your investment goals and your insurance, education, and retirement needs. Make sure you under- stand the benefits that your company can offer you. Tax savings strategies will only make sense to you when you have a financial plan.

2. Make your retirement plan contribution now. Even if you can’t take a deduction for your contribution, remember that the money you put into the plan will compound on a tax deferred basis. …

I t’s widely acknowledged that bank credit standards vary among banks and that, even with one bank, its credit policy will vary depending upon chang­ing economic conditions. Coupled with the cost of borrowing, tougher credit standards mean you should make every effort to keep your borrowing require­ments down. But when you do have to borrow, here are four tips to help you keep the cost of borrowing to a minimum.

1. Negotiate interest rates.

Not all banks will immediately quote their lowest rate. If you can’t get a some­what better rate by asking a few ques­tions, it might pay you to shop around – preferably with your bank’s biggest competitor.

2. Don’t borrow more than you need.

In most cases, the best strategy is to establish a line of credit for a given period of time. However, be sure to keep a close watch on …