Successful Investing With Taxes in Mind
There are many ways to earn money, but no matter how you get your income the IRS wants its piece of the pie. That includes any gains you make from your investments when you sell them. Although everyone does have to pay tax on their gains, you shouldn’t give the IRS any more than what you’re legally obligated to pay
With that in mind there are some strategies you can implement to be a tax-conscious investor. Contributing to a tax-differed retirement plan is a great way to save money. Although you will eventually have to pay tax on the income, you can accumulate a significant amount.
Another option is to consider tax-exempts. These are not for everyone, but if done right these investments can in some cases provide an investor with more gains than the after-tax return from a taxable investment would.
Mutual funds are another type of investment that can pay big dividends, but they must pay out their gains every year. That means unless you have losses from other stocks to offset those gains, you will need to pay taxes on them.
Anyone can invest, but not everyone knows how to invest wisely when it comes to taxes. If you would like to learn more about how to become a tax-conscious investor, then click here, or contact us at GROCO today. We can help you make wise investing decisions when it comes to your taxes. Call 1-877-CPA-2006 or click here to contact us online.
Connor Boyack on Empowering the Next Generation of Entrepreneurs
Connor Boyack never set out to be a children’s author or an architect of youth entrepreneurship programs. His career began in politics and web development, but a persistent search for meaning and impact ultimately led him to build one of the most influential educational movements of the past decade. Today, as founder of the Libertas…
Jerry Browder: A Mission Driven Legacy
Jerry Browder on Building Signet Health: A Legacy of Purpose, Faith, and Life-Saving Mental Health Care For most entrepreneurs, the journey is measured in revenues, exits, and market share. For Jerry Browder, founder of Signet Health, success is measured in lives saved, hope restored, and a mission that will outlive him. “I started Signet with a…
Why Scaling Requires Impossible Goals
Impossible Goals: Inside Dr. Ben Hardy’s Game Changing Psychology of Business Growth In a business world obsessed with incremental growth and conventional playbooks, Dr. Benjamin Hardy is breaking all the rules. An organizational psychologist and bestselling author, Hardy has spent the last decade redefining how entrepreneurs scale—not just their companies, but their very identities. Now,…
Howard Rosenfeld: Reshaping Local Food Systems
Bridging Fields and Communities: How Howard Rosenfeld’s Farmers Table Is Reshaping Local Food Systems At first glance, Warren, Connecticut, seems like countless New England towns—charming stone walls, rolling green hills, and sleepy roads winding past farmsteads. But beneath its pastoral calm, a quiet revolution in sustainable agriculture and community building is underway, led by Howard…