Feb 192014
 
2014 Tax Savings Tips

As tax season approaches, most taxpayers are concerned about finding ways to decrease their taxable income.  Utilizing these tax sheltering tips can help taxpayers save a significant amount of money on the amount of taxes that they owe.  Here are three simple ways to reduce your taxable income: 1.    Utilize Retirement Plans – Of course retirement vehicles are important in terms of  planning for retirement; however, they are also beneficial for saving on taxes as well.  They can reduce the amount of business and personal taxes owed.  In some instances, business owners may defer taxes on $50,000.00 of income per More…