Tag Archives: retirement plans
Retirement plans
Thursday, May 6, 2010 // 0 Comments // Tax Law
Since retirement accounts aren’t taxed heavily, investing in them qualifies as a form of tax shelter.
Read more & Talk about itTax credit
Thursday, May 6, 2010 // 0 Comments // Tax Law
A tax credit is different than a tax deduction, which reduces taxable income. A credit, though, reduces your tax liability dollar-for-dollar. For example, if there were a tax credit of $1000 for using environmentally friendly construction materials, you would owe $1000 less in taxes that year.
Read more & Talk about itFinancing arrangements
Thursday, May 6, 2010 // 0 Comments // Tax Law
Related individuals often use complicated arrangements involving capital gains taxes to their advantage. Capital gains incur fewer taxes than other investment income, so one person might decide to pay inflated interest rates to a related person in order to reduce the overall taxable value of the investment. Then, when withdrawing the investment, a huge capital [...]
Read more & Talk about itTax Shelters
Thursday, May 6, 2010 // 0 Comments // Tax Law
In an effort to avoid paying taxes, some individuals and businesses have sought refuge in tax shelters. The term “tax shelter” covers a wide range of methods designed to reduce the amount of tax incurred. The legality of tax shelters varies, and many arrangements are illegal. Thus, the IRS is constantly on the lookout for [...]
Read more & Talk about itTax Strategies for Individuals
Friday, January 1, 2010 // 1 Comment // Financial Guides
With proper planning, individuals can utilize strategies to reduce their tax bills. The CPAs of Four Brothers Financial, LLC. are experts at identifying and implementing these strategies for you. Our goal is to help you save money. Tax strategies include: Recordkeeping: We’ll help you develop accurate and efficient recordkeeping. Maximizing Deductions: With full knowledge of [...]
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