How to Reduce Your Tax Rate

Nobody likes paying taxes. Not that they don’t pay for some things we definitely need. Roads, some kinds of healthcare, representation in the government, and lots of other things America needs to keep itself running. They are a necessary evil in a civilized society.

But still – we all hate paying them. Anybody with me?  And if possible, I think everyone would like to pay less money into them. And I’m here to tell you that it’s possible to reduce your taxes with a couple different tactics. Some of them may mean the money you’d spend is contributed anyway, but others allow you to keep the money in different ways.
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Buy Long-Term Investments Without Breaking the Bank

With the world economy on shaky ground, many people have been focusing on the financial here and now more than the financial future. This is certainly understandable as people have to be able to survive today in order to live to see tomorrow, but if at all possible, it is important to look to the financial future. After all, a bit of planning today can make for a much sunnier tomorrow. Here are a few ways to buy long-term investments without breaking the bank.
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12 Common IRA Mistakes To Avoid

IRA’s (Individual Retirement Accounts) are a vital tool in retirement planning.   Younger investors may prefer the Roth IRA, while baby boomers may choose the traditional IRA.   When you retire, you may want to convert all your retirement assets into a rollover IRA.   So many choices and even more options can leave somebody overwhelmed on what the right IRA to choose when planning for retirement.   If you have an IRA, be sure to avoid these 12 mistakes:

1. Not taking advantage of the stretch distribution option or not establishing it properly.

The “stretch IRA” is a way for each IRA beneficiary to maximize payouts over his or her entire life expectancy. Properly designating beneficiaries and informing them of the IRA owner’s “stretch” intentions are key to making this strategy work.
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