CTP

SEPTEMBER 16, 2022

There are thousands of court-tested, law-abiding strategies that help the 1% avoid paying billions of dollars in taxes year after year, like the ProPublica article “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.” MUCH more than an accountant merely reporting your taxes!

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tax planning Tax tax return Education 98

CTP

NOVEMBER 9, 2023

Planning for retirement also means planning for retirement income taxes. Creating a tax plan for retirement will ultimately allow you to spend less money on taxes and put more toward the lifestyle you want. Taxable non-retirement investments or brokerage accounts. Pre-tax retirement funds.

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CTP

JUNE 10, 2022

This can lead to overlooking one key part of the sales process: tax planning. The decisions you make in structuring the sale will have a direct effect on later tax implications and how much of a profit you actually end up making. An S corporation might have accounts receivable, notes receivable, or tax receivable.

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CTP

NOVEMBER 2, 2023

The percentage of your retirement income that gets redistributed to taxes could considerably impact your quality of life during retirement—if you don’t have a plan in place. Formulating a tax plan for retirement allows your funds to stretch much farther than they would have otherwise.

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CTP

NOVEMBER 23, 2023

One of the hidden benefits of setting up your business as a partnership is the ability to use special tax allocations. Because a partnership is a pass-through entity, income, losses, credits, and deductions “pass through” to the business owners who are taxed at personal income tax rates.

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Tax tax return income tax tax planning 52

CTP

JULY 20, 2023

Know the Basics for Strategic Timing From a tax perspective, the goal is typically to move from short-term to long-term capital gains tax. Short-term capital gains are taxed at ordinary income tax rates, which will be 22% or higher for middle-to-upper-class taxpayers. Image by Sergei Tokmakov, Esq.

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Tax income tax tax planning Sales 52

CTP

NOVEMBER 25, 2022

Those figures do not account for the income students lose when attending college full-time. But it’s not by sticking your savings in a low-interest savings account. Saving for college through a 529 plan can simultaneously help you reach your college savings goals and reduce your taxes. Here’s why.

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