Tax Strategies for Individuals

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Avoid or Defer Income Recognition
Max Out Your 401(k) or Similar Employer Plan
If You Have Your Own Business, Set Up and Contribute to a Retirement Plan
Contribute to an IRA
Defer Bonuses or Other Earned . . .

Don’t overpay your income taxes by overlooking expenses which you are entitled to deduct. Use this Financial Guide to ensure you are handling your business travel and entertainment costs in a tax-wise manner.

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Travel Expenses . . .

If you have a household employee, you may need to pay state and federal employment taxes. Which forms do you need to file for your household employees? Is your maid, housekeeper, or babysitter covered by the rules? This Financial Guide . . .

Various tax benefits, including tax exemption, tax deferral, tax credits, and deductions, are available if you are paying or saving for college or other higher education costs. This Guide suggests ways to take advantage of these benefits.

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Many tax benefits are available to you when you sell your principal residence. However, the rules are complex and personal guidance is necessary to take full advantage of these benefits, so that you and your tax advisor can best work . . .

This Financial Guide explains when and to what extent points paid on the purchase of a home or on a refinancing are deductible. It explains the rules for deducting points and discusses special circumstances and situations.

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What . . .

Annuities may help you meet some of your mid and long-range goals such as planning for your retirement and for a child’s college education. This Financial Guide tells you how annuities work, discusses the various types of annuities . . .

When must you start withdrawing the funds in your retirement plans? And what happens if the funds aren’t withdrawn before you die? To what extent will your heirs be taxed? The rules are complex but there are ways the . . .

If you are thinking of retiring soon, you are about to make a major financial decision: how to take distributions from your retirement plan. This Financial Guide will discuss your various options. And, since the tax treatment of these distributions . . .

Roth IRAs differ from other tax-favored retirement plans, including other IRAs (called “traditional IRAs”), in that they promise complete tax exemption on distribution. There are other important differences as well, and many qualifications about their use. This Financial Guide . . .

How are distributions from mutual funds taxed? What happens when they are reinvested? How are capital gains on sales of mutual funds determined? This Financial Guide provides you with tips on reducing the tax on mutual fund activities.

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There are a number of tax vehicles for turning charitable desires into tax deductions. While these techniques are quite complex, they can with the proper guidance provide substantial tax deductions. This Financial Guide provides an introductory view of the ways . . .

This Financial Guide discusses the rules that apply when you contribute property–as opposed to money–to charity and is meant to provide general information. Contact your tax advisor if you need tax planning assistance.

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Determining Fair . . .

Since charities ask for larger and more frequent donations from the public these days, soliciting by mail, telephone, television, and radio for example, they should be checked out before you donate money or time. Here are some tips on how . . .