5 WAYS TO PAY YOURSELF – NOT THE IRS!
14 DEC 2015

Posted by robbie Categories: BLOG Comments: Post closed for comments

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  1. BOOST YOUR INVESTMENT IN YOUR EMPLOYER 401(K) RETIREMENT SAVINGS AND THEN OFFSET THE CONTRIBUTIONS BY INCREASING YOUR WITHHOLDING EXEMPTIONS SO THAT “LESS” FEDERAL AND STATE INCOME TAX IS WITHHELD.
  2. MAXIMIZE INVESTMENT IN AN IRA (INDIVIDUAL RETIREMENT ACCOUNT)
  3. BUSINESS OWNERS SHOULD CREATE AND INVEST IN A SEP (SIMPLIFIED EMPLOYEE PENSION PLAN), UTILIZE THE HOME OFFICE DEDUCTION
  4. EARN TAX-FREE INCOME BY INVESTING IN TAX FREE BONDS, CONTRIBUTE TO A STATE TUITION PLAN FOR CHILDS EDUCATION, OPEN A HEALTH SAVINGS ACCOUNT, UTILIZE EMPLOYER BEFORE TAX BENEFITS (MEDICAL, DAY CARE, ETC.)
  5. TAXPAYERS WHO ITEMIZE DEDUCTIONS SHOULD “GO GREEN” BY INVESTING IN ALTERNATIVE ENERGY FOR YOUR HOME, MAKE CHARITABLE CONTRIBUTIONS, KEEP RECEIPTS FOR JOB HUNTING AND EMPLOYEE EXPENSES NOT REIMBURSED.