Types of Authority
Tax planning should focus beyond tax savings and pursue goals related to wealth maximization, client objectives, suitable risk, suitable investments and effective use of time horizons.
Understanding Tax Avoidance vs. Tax Evasion:
Tax Evasion – The reduction of taxes through illegal means (fraud, failure to report, etc.)
Tax Avoidance – The act of working within the legal limits of the law to minimize tax liability through the use of various financial and tax planning tools.
Understanding Tax-Free, Taxable and Tax-Deferred:
Tax-Free – Income that never incurs a tax liability (e.g., tax-free municipals)
Taxable – Income that is subject to federal income tax (e.g., interest from corporate bonds)
Tax-Deferred – Income that is sheltered from income tax until a later date (e.g., securities purchased in a traditional IRA account, annuity or 401k plan)
TaxesLearn about the difference between tax havens and tax shelters, and how both are used to reduce tax liability or avoid paying taxes altogether.
Financial AdvisorLearn about three federal income tax facts that most Americans may not know from one of the most trusted financial resources on the Web.
TaxesHere is a comprehensive guide to tax planning in an environment where policies could dramatically change under new leadership in Washington.
TaxesMost U.S. taxpayers will be familiar with the 1040. By the end of filling it out, you'll know how much tax you owe, or what your refund is.
TaxesIncome tax is a levy many governments place on revenue of entities within their jurisdiction.
TaxesWhen you're budgeting for post-military life, certain state tax issues need to be considered.
TaxesThe number of taxes that we now consider a given did not always exist. Find out how they arose.
TaxesHigh income earners can use these tips to make their portfolio more tax-efficient.
TaxesDeferred tax liability is a tax that has been assessed or is due for the current period, but has not yet been paid. The deferral arises because of timing differences between the accrual of the ...
TaxesTaxes are difficult to avoid, but there are many strategies you can find to help ward them off a bit. Here are a handful of ways to protect your income.