Simple 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
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.
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.
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