Don't ignore the impact of taxes on your investments. While taxes should not drive your investment strategy, understanding how taxes affect your earnings will help you minimize taxes and maximize your return. Some things to consider:
One of the basics in retirement is to be as tax efficient with your income as possible. In 2019, income tax rates range from 0 to 37 percent, plus a potential 3.8 percent net investment tax. Understanding how these progressive tax rates apply to ordinary income creates a tremendous retirement planning opportunity.
Explaining these ubiquitous forms and their uses.
Here are some things you might consider before saying goodbye to 2019.
For years it was assumed that tax planning was reserved for the wealthy. While wealthy individuals will see the most benefit from tax planning, with big changes looming for the 2018 tax year, even middle-income earners can reap the benefits of tax planning.
Tax season is here once again. To ensure a smooth process with your CPA and tax advisor, there are several year-round tips to make sure you are organized when it comes time for tax preparation. Contact your Alloy Silverstein CPA for additional tips and guidance.