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.
Investors: A Growing Taste For Exotic Fare
Investors: A Growing Taste For Exotic Fare Even conservative investors are tempted by the returns of emerging-market funds For many managers of emerging-market funds, the biggest problem these days is that folks just love them too much. It used to be that buying stocks in Turkey and picking up distressed debt in Argentina was for…
When it Comes to Payroll Taxes, Don’t Mess With the IRS
When it Comes to Payroll Taxes, Don’t Mess With the IRS It’s payday! Everybody loves payday, except for the company making all those payments. It’s not that companies don’t want to pay their employees; rather it’s the high cost of payroll taxes that comes with having those employees. However, that’s the law, so if your…
Ten Facts about Capital Gains and Losses
Ten Facts about Capital Gains and Losses Source: IRS.gov The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset. Here are 10 facts from the IRS on capital gains and losses: Almost everything…
Ten Ways to Involve Your Children in Philanthropy
Ten Ways to Involve Your Children in Philanthropy Derek Ferriera and Martin Johnson Updated: 5/23/2013 Through your own philanthropic generosity—whether volunteering, supporting a charity as a benefactor, attending fundraisers or setting up a family foundation—you are educating your children about your values and teaching them to be generous. While you may identify your philanthropic values…