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.” To find a Certified Tax Planner near you, click here.

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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. Pre-tax retirement funds. Tax-free retirement funds.

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CTP

NOVEMBER 16, 2023

First, remember that partnerships are pass-through entities, which means that the business does not pay its own income tax. Instead the business’s income, losses, credits, and deductions “pass through” to the business owners who are taxed at personal income tax rates.

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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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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.

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Sales Tax income tax tax return 52

CTP

MARCH 2, 2022

If successful, the assets are transferred to the beneficiaries with no gift or estate tax in the remainder term. IDGTs (Intentionally Defective Grantor Trusts) : The trust removes assets from the owner’s estate for gift and estate tax purposes but not income tax purposes. 13] This further reduces taxable estate.

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income tax Tax tax planning tax return 97

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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