Tax Credit Consulting Anoka MN
SAINT CLOUD, MN
St Cloud, MN
Title: CFP, Investment Advisor
Company: Hometown Financial Planning
Registered Investor: Yes
College for Financial Planning - Masters Degree
MSU - BA in Finance
Eau Claire - Law Enforcement
Years Experience: 24
Annuity Ideas & Strategy Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Fee-Only Comprehensive Financial Planning,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Planning For Personal Finances & Budgeting,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,401k Rollover From Employer,Income for Life/ Preserve Princip
SAINT CLOUD, MN
SAINT CLOUD, MN
Lake Elmo, MN
Heartland Capital Management
Education: BA, MBA
Years of Experience: 10
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans
Tax Credit Consulting
Introduction to Tax Credits
Since you pay taxes like a good citizen, you already know the power of the tax deduction. With this introduction to tax credits, you are about to learn of a more powerful tax saving tool.
Assume you are at a cocktail party and the issue of taxes comes up. What is the first thing people complain about besides paying them? The number one complaint is the government is getting rid of all the tax deductions. This bitterness makes sense because tax deductions are the primary tool taxpayers have for knocking down their gross income when figuring out there taxes. The problem with this argument, however, is most people don't take into account the value of tax credits.
With any introduction to tax credits, it is important to understand a few things. First, a tax credit and tax deduction are two different things. Second, a tax credit is FAR more valuable than a tax deduction in most cases. Third, most people fail to claim tax credits that are available to them and overpay their taxes. Okay, let's get to the nitty gritty.
Tax credits are different and far more valuable than tax deductions. A tax deduction is used to lower your gross income with the result being called your adjusted gross income. In simple terms, you total all of your earnings and reduce that amount by your total tax deductions. You then take the remaining figure and find out how much you owe by applying it to the tax table provided by the IRS. A tax credit works a little differently.
With tax credits, you follow the same approach as above. Figure out your gross earnings. Subtract all deductions. Figure out the tax owed by taking the remaining figure and applying it to the relevant tax table. Here is where it gets really good. Once you have the exact amount of tax you owe the IRS, you reduce that amount by any tax credits you are going to claim. If you owe $10,000 and claim tax credits for $4,000, you end up writing a check for $6,000. Let's look at a practical example...
UST Executive Conference on the Future of Health Care
Dates: 11/5/2020 – 11/5/2020
University of St.Thomas Saint Paul
2260 Summit Avenue
Discover how you can play an active role in shaping the future by what you do within your organization and network with other health care leaders who are dealing with similar issues. The pace of change in health care has increased exponentially since our inaugural health care conference. And by the time the second annual conference convenes, Congress will have passed its bill for health care reform. We’ll have officially begun a new journey.Fortunately, visionary leaders have been helping to shape this next phase of health care. Investments in innovation and quality have led to some very effective – and often surprising – ways to cut costs, reduce errors, increase service and satisfaction, and improve access and outcomes. Bold initiatives such as these should be shared – especially during this transformative time, when we are all looking for fresh models of excellence. The University of St. Thomas and its partners invite you to participate in an inspiring day of learning, sharing and strategizing about how we can leverage innovation and quality to thrive in the new health care environment. Book Club:November 4, 2010Thursday, 5:00 p.m. - 9:00 p.m.Conference:November 5, 2010Friday, 8:00 p.m. - 4:00 p.m.Please visit the University of St. Thomas Executive Health Care Conference website for more information or copy and paste the following URL: http://ustfutureofhealthcare.com