The most common form of tax deduction is contributing to, or starting a retirement plan but we must also remember that we will lose anywhere from 15%-39% of our retirement income during retirement depending on our tax bracket.
Getting the tax deduction attributable to your contribution to your retirement plan saves taxes on ordinary income. What about the taxes attributable to retirement income?
One of the strategies we utilize at Goldwater Financial Group is to use an insurance indexing strategy to discount the taxes imposed on retirement
plan withdrawals. Why use an insurance indexing strategy??
Whether you're a business entity, a business owner or an employee of a firm, you can save taxes on income by creating a tax deduction.
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