Save Income With Smart Tax Saving Techniques in Philadelphia
Tax saving is a common agenda for individuals, and businesses of all types and nature in Philadelphia. Every person and entity wishes to save maximum money from their hard-earned income to enjoy profitable returns.
As a certified accounting firm, Tax Pa strives hard to provide the best advice to all of its clients to help them earn the maximum after-tax income. Whether you’re a salaried individual with limited income or self-employed, every penny earned is accountable under the current taxation rules and regulations in Philadelphia.
We provide tax saving techniques to individuals including high net-worth and self-employed.
Without much wait, lets get on.
Tax Saving Techniques for Individuals
- Defer Taxable Income
- Tax-Deferment Employer Plans - 401(k) or 403(b)
- Contribute to Traditional or a Roth IRA.
- Postpone Bonuses and Other Earned Income
- Stimulate Capital Loss and Defer Capital Gains
- Use the Gift-Tax Exclusion
- Tax-Exempt Municipal Bonds
- Charity Gifts
- Specific employer benefit plans to avail deductions on medical expenses
- Home Equity Loans and more
Most taxpayers ignore the relevance of managing adequate records which is crucial for financial management and staying safe off the IRS. Make sure you document every single entry to stay clear off any issues with IRS.
Our checklist covers general tax saving techniques for individuals residing in Philadelphia and surrounding areas. However, you can get them customized as per your specific needs and income situation. Let out consultants be of extended help.
Tax Pa consultants would be more than pleased to provide financial solutions.