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.
How to Stick to Your Veggie Diet on the Road
How to Stick to Your Veggie Diet on the Road With much of the developed world looking for more ways to be healthy, including eating better, many people have moved towards eating more unconventional diets. In fact, there are so many different specialty diets these days that one can hardly keep track of them all.…
Will You Have Enough in Retirement?
Will You Have Enough in Retirement? Are you starting to get closer to retirement? If so, have you taken the time to sit down with a professional wealth manager or advisor to discuss your financial outlook? Or, perhaps, you’ve largely ignored retirement and haven’t thought about how much it will cost to live from month…
How to Travel the World in Retirement
How to Travel the World in Retirement Retirement: that long-pursued time in life where you get to leave the workday behind and enjoy the fruits of your many years of labor, for much longer than two or three weeks a year. Most people look forward to retirement and all the free time they have to…
Tax Tip That Could Save You Big in 2017
Tax Tip That Could Save You Big in 2017 Just about everyone enjoys finding new ways to save on taxes. Even though the tax season is winding down for many, that doesn’t mean you should put taxes completely out of mind. In fact, making important tax decisions right now can pay huge dividends later on…