Tax Planning

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Investment Tax Credit Vs. Production Tax Credit

Current tax law encourages businesses to develop and operate renewable energy projects, such as wind turbines and solar farms. Not only is renewable energy equipment given a preferential depreciation schedule, but businesses may qualify for credits that offset their tax ...

How Much Should I Save From Each Paycheck for Taxes When Working for a 1099?

There is no one rate for independent contractor taxes, but you are generally safe from Internal Revenue Service penalties if you make four quarterly estimated payments equivalent to what you owed the previous year. When you file, remember to claim available deductions for ...

How to Figure Taxes on Series E Bonds

The U.S. Department of Treasury issued Series E savings bonds from May 1941 through June 1980. Originally created to fund World War II, the Series E bond was sold in denominations ranging from $25 to $10,000 and became fully mature after 40 years. The interest earned on a Series ...

Non-Qualified Annuity Beneficiary & Taxation

Annuity contracts are a common long-range savings option. While you can open an annuity as a retirement plan -- such as an individual retirement annuity -- to fund it with pre-tax dollars, non-qualified annuities also provide the same tax-deferred growth. When you open the ...

Tax-Saving Ideas for the High-Income Bracket

If you happen to be in the upper strata of tax brackets, it's hard to find reliable and relevant information in the media. Much of the financial media is geared toward the middle class and frequently recommends courses of action that may be irrelevant to you. For example, advice ...

Tax Tips for High Income Earners

Since the U.S. income tax system is progressive, a higher income typically means a higher tax rate. Fortunately, the Internal Revenue Code contains several incentives that you can take advantage of if you happen to be in a high tax bracket. Intelligent tax planning can help you ...

Taxes on Inherited Trusts

A trust is set up to hold assets at arm's length from the person who buys them. Living trust assets are taxed like other assets (gift and estate taxes apply). With good estate tax planning and accounting for applicable exemptions, it's possible to transfer these assets to ...

Tax Benefits of Land Leases

A land lease, also known as a ground lease, allows you to rent real estate rather than purchase it outright. This arrangement might save you money if you lack the resources to buy the land outright, or if you plan to develop it. Leasing land can result in both federal and state ...

Does Taking Money Out of Your IRA to Pay Off Your Home Incur a Tax Penalty?

Under the best circumstances, retirement planning can be difficult as you attempt to project your future financial needs while balancing the fluctuations of the present market. When other major financial pressures such as the expense of home ownership enter into the equation, ...

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