US Tax Professionals share 5 tax saving strategies to reduce income and lower a tax bracket
North Vancouver, BC -- (ReleaseWire) -- 10/22/2018 -- As a company that specializes in cross-border taxation, US Tax Professionals knows that many businesses and taxpayers need practical tips to save during tax time. However, the best approach is to have a strategy to minimize the tax bill ahead of time. A newly published article shares some tax-saving strategies that can be implemented year round. For more, go to: https://www.us-taxprofessionals.com/newsletter.php
Tax time isn't fun for anyone, but there are ways for businesses and individuals to save money. In a new article published on us-taxprofessionals.com, the team at US Tax Professionals share five tips to minimize tax liability.
For example, the blog advises maxing out a 401(k) or contributing to an IRA: "you've heard it before, but it's worth repeating because it's one of the easiest and most cost-effective ways of saving money for your retirement. Many employers offer plans where you can elect to defer a portion of your salary and contribute it to a tax-deferred retirement account. For most companies, these are referred to as 401(k) plans. For many other employers, such as universities, a similar plan called a 403(b) is available. Check with your employer about the availability of such a plan and contribute as much as possible to defer income and accumulate retirement assets…"
Other tips include taking advantage of benefit plans, bunching itemized deductions, shifting income using gift-tax exclusion, and tax-exempt municipal bonds.
It's unfortunate, but many taxpayers forgo tax credits and deductions because they have neglected to keep proper receipts or records. The team at US Tax Professionals can help maintain records while making sure clients take advantage of all tax deductions that apply to their situation. To learn more about US tax services in Vancouver, contact email@example.com or 604-281-3318.
About US Tax Professionals
US Tax Professionals provide tax services for dual American and Canadian citizens in Vancouver. Founded in 2013, they specialize in taxation for US citizens and expats, taxation and accounting for business, cross-border taxation for US and Canadian citizens, as well as accounting and taxation of alternative investments, including private equity funds and hedge funds.
For more information, visit https://www.us-taxprofessionals.com/ or call 604-281-3318
US Tax Professionals
Company Website: https://www.us-taxprofessionals.com/
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Email: Click to Email Mark Schiffer