Many financial advisors and accountants suggest contributing as much money as possible to your workplace 401k or traditional IRA. The money put into these retirement vehicles reduces taxable income and saves taxes today. For many people, funding a Roth IRA may be a better strategy.
I believe that investment real estate, when purchased wisely and taken care of properly, has the potential to make almost anyone wealthy over the long term. Investment real estate is powerful because of the way it is taxed, the way it can be financed, and how easy it is to improve.Continue Reading: Why Investment Real Estate is a Great Investment
Tax breaks for the wealthy grab a lot of headlines, but there are plenty of tax breaks available for middle and low income families if you know where to look. Here are a few of my favorite tax credits:Continue Reading: Tax Breaks for the Middle Class
I am often asked by entrepreneurs if they should set up a separate entity for their small business. For many people, operating as a sole proprietor is sufficient. If you are doing a little work on the side and you are not in a risky industry, there is often no reason to set up a separate entity.Continue Reading: Entity Selection
With the end of the year quickly approaching, now is the perfect time to look for ways to reduce your 2013 tax burden. Several popular tax breaks are currently slated to expire on December 31. Continue Reading: Year-End Tax Opportunities