Most tax planning involves deferral rather than eliminating taxes entirely.

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Tax Deferral: Pre-tax contributions allow you to defer the taxes until you withdraw the money from your plan.

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Presumably Mr. Buffett could adjust their incomes to include more dividend income or to defer more income from taxes each year by use of a salary-deferral plan, as well.

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An open question: whether Mr. Slott will pay his conversion taxes at this year's top rate of 35% or elect a one-time deferral into tax years 2011 and 2012.

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