CHAPTER20

Income Taxes and Tax-Saving Tips

In This Chapter

  • Kids and tax savings
  • Negotiating divorce settlements for tax benefits
  • Business deductions
  • Timing estate income and distribution for tax savings

I’ll tell you this: you’re probably paying too much federal income tax. And I’ll tell you something else: the Internal Revenue Service (IRS) isn’t about to set you straight.

Naturally, the more money you keep from the government over the years, the larger your estate will be. What follows are some income tax savings that build wealth. So use these tax strategies to your—and your family’s—advantage.

Your Dependents

Come April 15, your dependents ...

Get Estate Planning, 5E now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.