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tax relief strategiesSimple Tax relief and tax help strategies 

Tax relief strategy 1-Invest in tax relief interest investments


There are a number of tax  relief investment avenues for investors. In the United States, the tax relief investments  are Treasury bonds and US savings funds. Mutual funds that invest in Government securities also get tax relief  income from these investments,so investing in these mutual funds also provides tax relief,albeit at  a possible lower interest 

Tax relief strategy 2- Take advantage of lower rates for long term investments

Long term capital gains offer tax relief since long term capital gains are taxed at a lower rate than short term capital gains and gains in investments for more than 1 year usually qualify as long term investments in most countries.

In short,for tax relief, sell your profitable stocks after holding them for at least one year and sell your loss stocks within  a year.

Tax relief strategy 3- Sell zero value redundant stocks to claim tax relief

If you have redundant stocks that have no value- the cost to sell the stocks in terms of brokerage costs is more than the value of the stocks, then it makes sense to sell them and claim tax relief.

Tax relief strategy 4- Sell off your inherited assets and claim them as long term capital gains

Inherited assets qualify as long term capital gains, so if you can offset the gains against capital losses in a given year, then for tax relief reasons, it makes sense to sell your inherited assets.

 

Online Tax Preparation - Fast Refunds IRS approved and guaranteed accurate. All 50 states. E-file your tax return at TaxBrain.com.

 

 

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Last modified: August 31, 2005