Are you moving money out of a 401(k) fund? If the answer is “yes,” you may be able to knock thousands, or even tens of thousands of dollars off your tax bill! How? By using a smart roll-forward, roll-backward technique we call the “Double-Win” strategy. In a recent issue of the Tax Reduction Letter we outlined a winning way to slash taxes on your retirement funds by … [Read more...]
How to lower your tax bill when you sell stock winners
Trying to “time” the stock market can be a risky business. But timing the sale and repurchase of stocks in your portfolio, can make excellent tax-planning sense. You see, by strategically timing when you sell and repurchase your stock winners, you can take advantage of the zero-percent tax bracket for capital gains. This strategy can gradually eliminate most or all of your … [Read more...]
How to slash your IRA tax bill
There are two ways to think about your traditional IRA. (Both are valid.) Your IRA is a great way to save for retirement. You fund your account every year and watch your assets grow tax free. Your IRA is like a tax time-bomb waiting to explode. When you’re older, and it comes time to cash in your holdings, you have to pay a lot of taxes on both your contributions and … [Read more...]
How to qualify for deductions on rental-property losses
Do you co-own or co-manage a business or investment with your spouse? If you do, the tax law can help you out. Big time. You see, there are special IRS rules that allow you and your spouse to beat the IRS limits on deducting the net losses of your rental property, business, or investment. And this can amount to a lot of money! If you want to learn how joint filers can … [Read more...]
Get a home-office deduction for your rental-property business
Sometimes IRS rulings are clear and easy to follow. But when it comes to claiming a home-office deduction in connection with your rental properties, you’re entering (play spooky music) the twilight zone. You see, in order to successfully claim the home-office deduction you really have to know the ins and outs of the law. Luckily for you, we do. And we’ll tell you how to … [Read more...]