14 Year End Tax Tips to Consider

Planning ahead  is a good idea when it comes to adopting a strategy to reduce your taxes. But for some people, time just gets away from them. So with that being said here are 14 year end tax tips to consider: 14 Year End Tax Tips to Consider: 1. Review income and deductions. It’s all in the timing. The most fundamental year-end tax move is to adjust the timing of income and deductions. If your income is

Are you sitting on a tax-deferred time bomb?

If you have money in a tax-deferred retirement account such as a 401(k), IRA or 403(b), you’re sitting on a tax time bomb. Here’s why… Conventional wisdom says, “Maximize your contributions to tax-deferred plans. Your money compounds without being reduced by taxes and you’ll end up with more money during retirement.” But like much conventional wisdom about personal finance, it’s baloney. The Society of Actuaries says if tax rates remain the same, “It doesn’t make any