Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability.
A quick look at how federal income taxes work.
Like it or not, taxes are part of life. Understanding them could help your tax-saving strategy.
An inside look at how marginal income tax brackets work.
If you want to avoid potential surprises at tax time, it may make sense to know where you stand when it comes to the AMT.