I make a lot of money and have not spoke with a financial advisor yet... Give me some good tax break ideas!?
Question:
401K's
IRA's
Having Kids...
Give me some more.
Or if anyone knows a trustworthy financial institution that will steer me in the right direction that would be appreciated.
Answer:
Invest in tax exempt securities issued by towns/cities in the state you live in, or by your state itself. The interest you get from them is tax-exempt both federal and state.
Donate stuff instead of having a garage sale or selling it on eBay. This gets rid of excess stuff and gives you a tax deduction. Just make sure you document it - get a receipt for what you donate and take pictures of the stuff as well.
Tax deferred annuities.
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