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 Some Big Companies Are Maximizing Their Tax Benefit
How Some Big Companies Are Maximizing Their Tax Benefit There’s no question that the IRS is always looking for ways to get every penny they can from the nation’s taxpayers, whether they be individuals or businesses. On the other hand, many are also doing whatever they can to pay as little as possible, some, even…
Federal Government Still Facing Huge Deficit
Federal Government Still Facing Huge Deficit Does it seem like no matter how much money the federal government collects in tax revenue, they will still never have enough? For a lot of people the, answer is a resounding “yes.” The country’s Monthly Treasury Statement lends even more credence to that belief. What does the Treasury…
The IRS is Not a Bully – You can poke a bully in the nose.
The IRS is Not a Bully You can poke a bully in the nose. This is the third installment of “The IRS is Not a Bully” series, identifying taxpayer concerns and the difficult position in which Congress puts the IRS. Namely, applying ever increasing pressure to operate in ways its founders never intended, until it’s…
Could You Pay More to Drink Soda in Berkeley?
Could You Pay More to Drink Soda in Berkeley? We all know that obesity is a problem in our country. Activists and other interested parties continue to work on ways to help curb this growing problem. Indeed, obesity is neither good for individuals or for our country. However, would creating a new tax to help…