Tax Magic: How To Turn Taxable Income Into Tax-Free Income
Believe it or not, there are ways to convert taxable income into non-taxable income, without any fear of an IRS audit.
Here’s one of my favorites. It’s been part of our tax code for over 30 years, yet many still don’t take advantage of it.
What am I talking about?
The IRA — Individual Retirement Account.
Now, before you say, “Oh, I know all about that one; what’s so great about an IRA?”, give me 10 minutes to explain 3 new benefits to the IRA rules that you may not realize.
BENEFIT #1: How To Avoid Tax Rather Than Postpone Tax
First, did you know that there are now 2 kinds of IRA’s available?
The so-called Traditional IRA is the one that first came out way back in the 1970’s.
But there’s a newer version of the IRA that’s only a few years old — it’s called the Roth IRA. And the difference between these 2 IRA’s is huge.
Traditional IRA contributions are tax-deductible, resulting in immediate tax savings. The growth of those contributions is also tax-sheltered while the...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
