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Must Read Financial Planning Questions - Tax Planning Questions

11/24/2014

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Tax Planning Questions

Am I employed or self-employed? Should I file single or join tax returns? Does it make sense to form a corporation? If so what type of corporation should I form? Should I itemize my deductions? What are the new Medicare SurTax rules? Do I have to pay for this new tax? If so how do I manage it so I don't have to pay it? What's short term and long term capital gain tax? Which one am I paying? Why is my long term capital gain tax is over 20% where my friends are only paying 15%? How do I lower my long term capital gain tax? How is my social security and healthcare tax calculated? I'm a W2 person, how do I reduce my tax liabilities other than my mortgage interests and 401k contributions? Are there investments that can help me reduce my tax liabilities? I'm self-employed with a few employees, are there ways I can put much more money away other than having a SEP IRA, Simple IRA or 401k plan? How do I lower my tax bracket? Will tax eventually go up or down? What's the difference between long-term capital gain tax vs short-term capital gain tax? How do I go from STC to LTC and save on taxes? How will my charitable donations benefit me and others? Am I violating the gift tax rule? Do I need to pay tax when I'm dead? How do I manage that so my heirs will get the maximum assets I pass on to them? 


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