How to beat IRS double-tax monster ... legally iStock/Thinkstock

How to beat IRS double-tax monster ... legally

To make it easy, suppose you take one dollar out of your plan: the IRS gets 36 cents in income tax When you go to the big business in the sky, the IRS estate tax monster socks you again Can you beat these two tax bandits? Yes you can!

Are you lucky enough to be rich (my definition of rich: you are irrevocably in the highest income tax bracket and highest estate tax bracket)? Is one of your significant assets a large amount (about $1 million or more) in a qualified plan: like an IRA, 401(k) plan, profit-sharing plan or similar plan?

Register to view the full article

Registration on Contractor allows you exclusive access to high value content centered around proprietary research, expert analysis, and in-depth technical procedures.

TAGS: Taxes
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.