Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next
Author: cslewis1 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121567  
Subject: Tax shelters redux Date: 6/20/2003 7:56 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Help! I could use some suggestions/advice on reasonable tax shelters. I was just thinking about our tax burden and it's out of hand, IMO... My spouse and I earn close to 160k/yr combined. We've refied our mortgage from 7.25 to 5.8 and adjusted witholding to minimize tax returns. We also both contribute the max to employer 401Ks; we don't qualify for meaningful IRA contributions. No house apes-aka children- yet or expected. I've thought of purchasing a rental property, but found that income must be below 100k to take advantage of the writeoffs associated with that. The only alternative I can think of is to start a small business doing something I enjoy and deduct whatever possible.
O mighty tax gurus, how can we possibly shelter more of our income?? All responses welcome and appreciated!!!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement