PR Newswire believes that US Money Reserve is renown for it’s trustworthy and ethical business practices as a distributor of U.S. government-issued coins, and part of those practices include providing sound fiscal advice towards the tax filing deadline, laying out a wide arrange of options.
The US Reserve suggestions center around retirement accounts, and reducing the taxable base. The initial consideration is the possibility of multiple retirement accounts that can work in parallel providing the tax relief, as well as the support for individual goals.
On that note, opening a traditional IRA before the April 17th deadline towards 2017 taxes. The contributions to IRAs can be as high as $6,500 for individuals over 50 years, or $5,500 for individuals under the threshold.
A contribution can be made with the tax return money if the cash isn’t available: It is possible to claim a tax reduction before the money is in the account, and therefore leveraging on an expected tax return to immediately invest in an IRA can result in tax relief, without impacting cash flow.
For last minute investments in IRAs, it is important to note that the custodian or trustee must be notified what period the contribution is going to apply. Unless specified, a contribution filed before April 17th can apply to 2018, with no effect on 2017 taxes. Learn more about US Money Reserve: https://www.huffingtonpost.com/author/angiekoch-usmoneyreserve-894 and http://spectrumlocalnews.com/tx/austin/news/2017/11/16/us-money-reserve-gives-to-harvey-relief.html
For spouses filling jointly, a spousal IRA can be opened for the non-working spouse boosting savings and positively impacting the tax bill. An additional alternative is a saver’s credit if there is an existing IRA and the 2017 adjusted gross income is under a threshold depending if filing as individual ($31,000), head of household($46,500) or married couple filling jointly ($62,000).
The last suggestion is to strengthen self-directed IRAs with precious metals. With the advise of US Money Reserve, lead by a former United States MINT director, the door is open to evaluate the potential benefit of owning top grade coins produced by the US MINT and backed by the US government.
For those who acquiring purchasing U.S. government-issued legal tender sounds taunting, US Reserve offers the support of a experienced precious metal professional, as well as a buyback guarantee for a period of up to 30 days of purchase.