4 Ways To Avoid Taxes When Selling Your Property
There are great gains to be found in real estate. Sometimes those gains can also trigger big tax bills. How do you retain more of what you make, and minimize what Uncle Sam takes out of your pocket?
While taxes can be steep and complicated, there are numerous exemptions for legally avoiding unnecessary taxation. The government has not only created these for you, but expects you to take full advantage of them. If you don’t, you are just throwing away what you’ve made.
Here are four ways to help minimize that…
Contributing to, and investing through self-directed retirement accounts can help defer taxes and even secure tax free gains.
These powerful tax deferring vehicles can help investors make the most of opportunities, without the harsh financial penalties. They are also far more flexible than most realize. Find out more about them here.
New legal changes have increased the amount that investors can give to charitable organizations and deduct. Real estate owners may also find they can begin passing on more of their estate to heirs early through gifts and various holding structures earlier too. Learn more about Wills, Trusts & Estate Planning here.
Better Accounting & Tax Planning
Most individuals and families can fare far better at tax time with a better accountant, and forward thinking tax planning which maximizes deductions each year. With a good plan you’ll be reducing your tax burden right from January 1st each year, and have the documentation to offset any gain you make.
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