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Paying Too Much In Taxes? |
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Now that the end of the year is near, it is time to
review a few business tax tips for 2007. Anyone who owns
a business or is planning to start a new business in
2007 should be thinking about maximizing the
profitability of their business and minimizing the
amount of tax that needs to be paid on that profit.
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8 Rules of Building Wealth |
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Remember that it's not what you make, it's what you
keep. When evaluating an investment evaluate the cost to
generate an investment return. If you are using an
investment manager compare the performance of the
investment net of fees.
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Tax Tips for Sale of Residence |
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You may qualify to exclude from your income all or part
of any gain from the sale of your main home. Your main
home is the one in which you live most of the time. To
claim the exclusion, you must meet the ownership and use
tests.
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IRS Circular 230 disclosure: To ensure
compliance with requirements imposed by the
IRS, we inform you that any U.S. federal tax
advice contained in this document is not
intended or written to be used, and cannot
be used, for the purpose of (i) avoiding
penalties under the Internal Revenue Code or
(ii) promoting, marketing or recommending to
another party any transaction or matter that
is contained in this document.
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Get Full Benefit of Saver's Credit
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Low- and moderate-income workers can take steps now to
save for retirement and earn a special tax credit in
2007 and the years ahead, according to the Internal
Revenue Service.
The saver's credit helps offset part of the first
$2,000 workers voluntarily contribute to IRAs and to
401(k) plans and similar workplace retirement programs.
Formally known as the retirement savings contributions
credit, the saver's credit is available in addition to
any other tax savings that apply.
Read On... |
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