5 Tax Saving Tips To Consider For 2017

05 Sep 2017 01:21 PM By John
  Let's face it, we love our families but Uncle Sam doesn't top the charts on being our favorite family member. Our team at Strategic Accounting & Consulting works for you, not the IRS. Our main partners, Robert and Brandy, have 52 years of combined experience in Corporate America and entrepreneurship, which has proven to benefit many clients to minimize tax obligations, legally. Here's just a few simple tips on what we advise. Call us at 407-961-0000 for more tips. The time is now to tax plan for 2017.   Here's just a few of the  Tax Saving Strategies we use...
  1. Splitting income among several family members or legal entities in order to get more of the income taxed in lower bracket.
  2. Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.
  3. Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans.  Shelter your interest inside your retirement accounts. If your investment portfolios are going to hold bonds, then it might be best to hold those bonds inside tax-deferred retirement plans such as IRA’s and 401(k) plans.
  4. Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities.
  5. Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.