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Minimizing Tax on Mutual Fund Activities
Whether you’re new to mutual funds or a seasoned investor who wants to learn more, these tips will help you avoid the tax bite on mutual fund investments. First, you need to understand how distributions from mutual funds are taxed. Tax law generally treats mutual fund shareholders as if they directly owned a proportionate share […]
IRAs Are Not for Day Trading
As an active trader, you quite rightly want to reduce the amount of tax you owe on your profits to the legal minimum. At first thought, you might consider trading from a traditional or Roth IRA to shelter your profits. In a traditional IRA, your contributions are tax-deductible and you don’t have to pay taxes […]
What to Do if You Haven’t Filed a Tax Return
Filing a past due return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. It is important, however, to know that […]
Tax Planning Strategies to Use This Year
Looking to save money on your taxes this year? It’s never too early to start planning ahead using these proven tax planning strategies.