3 Smart Tax Relief Moves Before Dec. 31
2021 is coming to an end! It’s time to plan tax strategies to reduce tax obligations. Here are a few strategies to consider:
#1 Beef up your retirement
One way to lower your taxes is to make more contributions to a 401(k), 403(b), or IRA. 401(k) & 403(b) contributions have a Dec. 31 deadline for contributions, while IRAs allow for contributions until April 18, 2022. The IRA deadline gives investors extra time to contribute to their account.
#2 Convert your IRA into a self-directed Roth IRA
Visit our website for the latest Podcast about self-directed IRAs. Not all IRAs are the same! In a standard Roth IRA, investors are typically boxed into traditional investments like stocks, bonds and mutual funds. While the stock market selloff had many traditional investors shedding a tear on their dimming portfolios, savvy investors have used alternative investments to diversify. The self-directed Roth IRA opens up the investment landscape to alternatives such as real estate, precious metals, and cryptocurrency. Alternative investments allow investors to take advantage of high-yield fixed income returns in addition to the tax-free benefits! The self-directed Roth IRA has been a long-time secret of the ultra-wealthy. At the Family Business Fund, investors enjoy a 15% consistent return. Investing in a fixed rate of return lowers the volatility of your portfolio when the market is going crazy. The Fund is designed with the intention of generating passive income immediately and creating financial independence. Don’t put all of your hard-earned money in a volatile stock market!
#3 It’s giving season!
This year taxpayers have the ability to take a $300 deduction for a single filing or $600 for joint filings for qualified charitable contributions. This will reduce your adjusted gross income and taxable income which reduces the federal income tax amount.
For more information contact Douglas Muir at [email protected] or call (888)884-6442 ext. 3
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NOT INVESTMENT ADVICE
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained within this communication constitutes a solicitation, recommendation, endorsement, or offer by Family Business Fund (FBF) or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All Content in this communication is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the communication constitutes professional and/or financial advice, nor does any information constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. FBF is not a fiduciary by virtue of any person’s use of or access this Content. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content before making any decisions based on such information or other Content.
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Contact Person: Douglas Muir
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Country: United States
Website: www.familybusinessfund.com
