Marcela Kane Lantrip – Sr. International Tax Manager at Halliburton

Marcela Kane Lantrip is a successful international tax professional located in Houston, Texas. Currently, Marcela Kane Lantrip is Director of Tax with Halliburton, one of the largest oil field services and gas utility companies in the world.

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Marcela Kane: Tax Planning vs. Tax Evasion

Marcela Kane Lantrip understands the importance of tax planning. However, while the term “tax planning” is used often, it is not always well understood. Marcela Kane Lantrip shares the important information you should know about effective tax planning below.

What is Tax Planning?

Tax planning is the art of arranging your affairs in a way that postpones or avoids taxes, explains Marcela Kane Lantrip. By employing effective tax planning strategies, you can have more money to save and invest or more money to spend, or both. Tax planning generally means deferring or completing avoiding taxes by taking advantage of beneficial tax law provisions, increasing and accelerating tax deductions and tax credits, as well as making maximum use of all applicable breaks available under the United States Internal Revenue Code.

Marcela Kane

While federal income tax rules are more complicated than ever, the benefits of good tax planning are arguably more valuable than ever before. However, you should not change your financial behavior for the sole purpose of avoiding taxes, cautions Marcela Kane Lantrip. “Meaningful and effective tax planning strategies are those that permit you to do what you want while reducing tax bills along the way.”

Marcela Kane Lantrip: End-Of-Year Tax Planning Tips

The Tax Cuts and Jobs Act did not fundamentally reform the individual income tax system. However, explains Marcela Kane Lantrip, it did change enough provisions to alter the tax planning landscape beginning in 2018. The good news is that many taxpayers will see their federal taxes go down this year. However, not everyone will see their tax bill drop because limitations or wholesale elimination of certain deductions may offset the benefit of slightly lower tax rates.

In spite of the changes, one thing remains unchanged: Year-round holistic tax planning and a sound understanding of the character and timing of income and deductions can help identify opportunities and strategies to achieve a more efficient tax result. The following are a few tips that can make your end-of-year tax planning easier.

Having a good estimate of where your income might fall can help you to strategize on areas such as how and when to receive income, and maybe even whether to tie the knot, explains Marcela Kane Lantrip. While the law modestly lowers individual income tax rates across the board and sets the top marginal tax rate at 37 percent, it is worth noting the narrow gap between the thresholds where the top 37 percent tax bracket kicks in for individuals (i.e., $500,000) and for married couples (i.e., $600,000).

Additionally, because of the new tax rates, you may also want to update the tax withholdings from your paycheck. The IRS recently released an updated calculator to help tax payers figure out whether they need to file a new W-4 form with their employer or not.

marcela kane

Many taxpayers, particularly those without mortgage debt, may discover that taking the standard deduction (i.e., $12,000 for individuals and $24,000 for married filing jointly) is better than itemizing, says Marcela Kane Lantrip. Taking the standard deduction means streamlined tax preparation and less record keeping. The Tax Policy Center estimates that barely 10 percent of households will itemize deductions in the future. By following year-end tax tips, you can prepare in 2018 to save on taxes due in April of 2019, reminds Marcela Kane Lantrip.

Marcela Kane, JD is recognized by Continental Who’s Who – Houston Business Journal

Marcela Kane, JD is recognized by Continental Who’s Who
PR Newswire
SPRING, Texas, July 16, 2018

SPRING, Texas, July 16, 2018 /PRNewswire/ — Marcela Kane, JD is recognized by Continental Who’s Who as a Pinnacle Lifetime Member in the field of Tax Services in recognition of her role as Director of Tax at Halliburton.

With its inception in 1919, Halliburton is, “one of the world’s largest providers of products and services to the energy industry”
— Read on

Marcela Kane Lantrip

Marcela Kane Lantrip: Workplace Diversity in Corporate America

As a Latin American woman in the United States workforce, Marcela Kane Lantrip understands the importance of workplace diversity and is a passionate supporter of diversity in corporate America.

To support workplace diversity, Marcela Kane Lantrip has mentored several associates, providing them with the confidence and guidance they need to succeed. One of her ongoing goals include continuing to partner in mentor/mentee relationships encouraging honesty and candor about their experiences to increase the benefit of the relationship for all parties.

Marcela Kane Lantrip firmly believes that mentor/mentee relationships should be mutually beneficial for all parties with each committed to the relationship by choice. Further, with goal collaboration, mentors and mentees can help each other benefit in a collaborative manner.

In a recent interview, Marcela Kane Lantrip shared, “Good mentors can do enormous amounts for women in the workplace. Not only can they provide the benefits of their experience, making female leaders more capable of taking on some of the challenges that they will face, but mentors can also go to bat for their protégés in board meetings and other areas of the company, helping them to get noticed and advance in their careers.”

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Marcela Kane Lantrip

Marcela Kane

Marcela Kane Lantrip is a Highly Recognized Tax Professional

Marcela Kane Lantrip is the recipient of the 2018-2019 “Influencer of the Year” by the International Association of Women, for her dedicated commitment to mentoring women in the workplace. Additionally, Marcela Kane Lantrip is recognized by Continental Who’s Who as a Pinnacle Lifetime Member in the field of Tax Services.

Marcela Kane

Marcela Kane Lantrip

Marcela Kane Lantrip

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