NOTES 

Using tax strategies is using the tax incentives the government has set up to encourage saving and stimulating the economy

 

If you feel the need to fire your CPA because they aren’t a good fit for you, interview at least three others to find someone who aligns with your goals

 

Alternative investments have higher risk rewards, but are not necessarily riskier

 

Implement different tax strategies throughout your career as your goals and needs change throughout your life and circumstances

 

There are two types of strategies used: alternative strategies and qualified plans, which are defined contribution and defined benefit plans

 

The problem with contributions is that the goal is to be in a higher tax bracket at the end, and the reality that taxes are most likely to always go up rather than down

 

Always find an operator that knows what they are doing; buying property with the purpose of not developing it allows you to use a strategy of tax savings

 

Cost segregation can rapidly depreciate real estate but is typically most valuable for higher-value properties

 

If you’re just starting out your practice, have an emergency fund of six months of expenses and have insurances in place to fall back on

 

Review your strategies often, New options and strategies are always available and your goals and situations change

 

LINKS

Website: https://moneyinsights.net/

 

CONTACTS

Phone number: (801)-642-4924

Email: [email protected]