March 98
A penny saved is a penny earned, or so the saying goes. But depending on your tax bracket, regular federal income tax can take up to 39.6% of your investment income, making it hard to save those pennies in the first place.
Tax time is March and April. We think about taxes at this time of year more than any other.
If you are thinking, "Isn’t there something I can do to reduce my tax bill?" you’re definitely not alone.
In addition to deductions from income there are many ways to reduce your tax bill such as: Municipal Bonds or Municipal Bond funds, Deferred Annuities (variable or fixed), long term capital gains, IRA’s including the New Roth IRA (See this month’s newsletter enclosed), Qualified Retirement Plans (also touched on in this newsletter), Charitable Remainder Trust, Family Limited Partnerships, Educational Trusts, etc.
We have lots of ideas. The trick is to choose the ones that make the most sense given your individual circumstances.
Call me for more information.
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520.884.7550
jpw@financial-architects.com
2311 E. Broadway
Tucson, AZ 85719
United States