YOU Magazine - November 2007 - Ten Ways to Lower Your Tax Bill By Mary Beth Franklin
Subscribe to YOU Magazine and other timely market alerts from Kathleen Petty.

YOU Magazine
Kathleen Petty     Kathleen Petty
AVP/Sr Mortgage Originator
Alaska USA Mortgage AK#157293
Phone: (907)261-3458 Cell: 223-4440
Fax: (907)929-6699
License: NMLS Unique Identifier #203077
k.petty@alaskausamortgage.com
www.kathypetty.com
Alaska USA Mortgage AK#157293
November 2007



October 2007
September 2007
August 2007
July 2007
June 2007
May 2007


    
Ten Ways to Lower Your Tax Bill
By Mary Beth Franklin


Ten Ways to Lower Your Tax Bill - By Mary Beth Franklin




It's only November, and preparing your taxes is the last thing on your mind, right? Well, what if we told you there are several steps you can take right now that will help you avoid the April tax scramble and save thousands of dollars in the process. For the best of these tax-saving strategies, YOU turned to our good friends at Kiplinger's Personal Finance magazine to make it even easier.

1. Don't Buy a Tax Bill. If you're thinking of purchasing mutual funds between now and the end of the year, think twice – you might end up owing Uncle Sam.

2. Beware of the AMT. Should you accelerate deductions to cut taxes? It depends – you could end up with a bigger tax bill.

3. Donate Appreciated Assets. Giving stocks or mutual fund shares instead of cash to charity will let you score a deduction and avoid a capital gains tax bill.

4. Winning With Losers. Look on the bright side: Selling a losing asset at this time of year can be a great way to rebalance your portfolio and save on taxes.

5. Understanding the Gift Tax.
If you don't use your $12,000 annual exclusion by December 31, you lose it.

6. Why Your Kids Need a Roth IRA. Looking for the perfect gift for your children? Open a Roth for them, and start them on the road to retirement security.

7. Lower Your Taxes by Thinking Green. Outfitting your home with new storm doors and windows or buying a gas-efficient hybrid car can help you score tax credits.

8. Max Out Your Retirement Savings. For most people, the best way to cut your tax bill today is to maximize your retirement savings for tomorrow.

9. Time for an IRA Distribution? The law requires you to begin taking money out of traditional IRAs or face a penalty. But a new temporary provision allows you to direct your IRA distributions to a charity tax-free.

10. Trim Taxes with Flex Accounts. If you typically under-fund your flexible spending account – or skip participating altogether because of concerns about the use-it-or-lose-it rule – fear no more.

Reprinted with permission. All Contents © 2007 The Kiplinger Washington Editors




License AK# 157293 Washington Consumer Loan Company license# CL-157293 California Residential Mortgage Lending Act, License# 4131067

You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Kathleen Petty. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.

INVITE A FRIEND to receive YOU Magazine. Please feel free to invite your friends and colleagues to subscribe.

SUBSCRIBE to YOU Magazine. If you received this message from a friend, you can subscribe online.

UNSUBSCRIBE: If you would like to stop receiving emails from Kathleen Petty, you can easily unsubscribe.

Alaska USA Mortgage AK#157293
, 125 W Dimond Blvd #110
Anchorage, AK 99515

Powered by Platinum Marketing

© Copyright 2018. Vantage Production, LLC.