Taxes

With the year coming to an end, now is a great time to make some moves that will lower your tax bill. Here are 5 quick and easy moves that will lower your tax bill. Maximize Your Retirement Contributions Anything you contribute to your 401k will reduce your taxable income, which is why we recommend putting your money there first in your hierarchy of savings. IRA … [Read more...] about 5 Easy End of Year Tax Tips

Tax loss harvesting is the silver lining whenever a stock goes down. When you sell your investment for a loss, that loss can be deducted from your income and capital gains taxes. Lowering your tax liability will indirectly increase your returns, especially if you have owned that investment for less than 1 year. Tax loss harvesting has some tricks, and we'll walk through how … [Read more...] about Everything To Know About Tax Loss Harvesting

Taxes are one of the largest wealth destroyers, and there are several income tax deductions that can lower your taxes. By keeping these in mind, you can keep more of your net worth and accelerate your way to financial independence. While we will share our top recommendations, we also encourage hiring an accountant to help you. Accountants will ensure you minimize your tax … [Read more...] about Income Tax Deductions to Preserve Wealth