Tax Saving Tips For The Future

With just a month left to complete the tax exercise, there is still time to make investment decisions, which will help balance the accounts with the Treasury. While tax planning is not a matter left to the last minute, there are formulas with which you can deduct the tax base from income tax. Contributions to pension plans and the amortization of mortgage are the most valuable, also becomes necessary to reduce the impact of taxation on capital gains that may have been harvested throughout the year for financial transactions.

Pension Plans
Pension plans are the most widespread financial planning for retirement and have substantial fiscal stimulus. The limits apply to the sum of individual contributions, employment, mutual welfare, pension insurance and insurance agency. The tax reform has created the individual systematic savings plan (PIAS), which, according to experts, can be a perfect complement to pension plans to retirement. It has an attractive tax system, since gains are not taxed if the product is rescued as an annuity, and after a minimum of ten years.

Investment
No matter if you have one day to another or over the years. Taxed at a common rate of 18% applies to profits made on the Stock Exchange or the hiring of deposits, investment funds, current accounts, fixed income and housing. The new tax system clearly has favored short-term capital gains. Investment losses leave a loophole with which you have to soften the impact of taxation on profits. The new income tax provides compensation mechanisms between gains and losses but with more restrictions than in the previous tax regime.

House purchase
15% of the amount invested in the purchase, rehabilitation, expansion and construction of the residence may be deducted from the full share of the income tax on a maximum of $9,015.18 per year. What contributed to the savings account has the same housing deduction. The landlord may deduct all expenses related to repairs, maintenance and financing of rental housing, even if the cost exceeds the net revenue with the lease.

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Five Reasons Why Dallas, TX Is THE Place to Own a Vacation Home

Owning a vacation home is, for many, a dream; a getaway house in the back of your mind that jumps out and yells “come visit!” when things get a little too hectic and stressful. There are a ton of reasons that make buying in Dallas, Texas so tempting: arts, sports, fine dining, and traditional Texan rodeo culture, many find leaving their vacation homes pretty difficult. Here are five reasons why you should consider the Lone Star state:

First reason? Well, if you’re going to buy a second home, you have to fill it with furniture, decor, etc. Dallas, Texas is home to extreme shopping, with quite possibly the most shopping centers concentrated in one city throughout the entire nation. NorthPark Center, Dallas’ center for boutiques and privately owned artisan shops, not only boasts world-class shopping, but the center is filled with contemporary art. Filling a home with decor is always fun, but the project may very well be endless with a gamut of possibilities surrounding you.

Second, Dallas, Texas is home to some of the biggest sports teams in the nation. The Dallas Mavericks, the Dallas Stars, Texas Rangers and Dallas Cowboys all call the city home. These teams are known for bring very personable and likable across the board, so it’s pretty easy to root for the ‘home’ team during your vacation getaway. Never worry about visiting during the offseason, or being ‘stuck’ at your vacation home…there is always a game to go to.

Thirdly, Tex-Mex gets its name from, you guessed it, Texan Mexican food. Only one place to get it, and Dallas has some of the best Tex-Mex restaurants in the state. From a few dollars to serious dining, vacationing only gets better when you decide to get a bite to eat. Watch out, though, as Dallas,Texas has a few ‘dry’ areas, so if you are looking to get an ice cold Mexican beer with that plate, double check to make sure it’s available at the spot you may be considering. This Dallas vacation home is really starting to look convincing, isn’t it?

Fourth, the rodeo culture in Dallas, Texas is as unique an experience as Texas is big. Rodeo season runs from April onto September, and the Cowtown Coliseum, just a stone’s throw away in Fortworth, holds weekly competitions. When venturing out from, this is a cultural activity at its finest; the special atmosphere is fulfilling in itself if you aren’t akin to watching bulls buck cowboys.

Lastly, the museum crawl is almost worth the stay in itself. One of America’s finest conspiracies, the Kennedy assassination garnered its own museum, named the 6th Floor Museum. The Texas School Book Depository, which used to be an early 20th-century warehouse after a depository, features films, photographs and artifacts chronicling President Kennedy’s life, death and legacy. The Dallas Museum of Art rotates extraordinary exhibits, ranging from African to Asian art and everything in between. Dallas, Texas is home to some of the nation’s finest art, a little-known fact to many, as Texas is home to so much already. The Kimbell Museum of Fine Arts is another exceptional visit.

If buying a vacation home in Dallas, Texas doesn’t make sense yet, financial security may bolster your convincing. Owning a second home, when you aren’t visiting, is a great source of income for renters. Second homes can also offer federal tax deductions, tax-sheltered income and possibly even a reduction in property taxes. Owning a second home really is less costly than ever before, and when the big ‘retirement’ discussion rolls around, many folks already know where they’ll be living. Dallas, Texas is a great place to seriously consider; come take a look firsthand.

Sawyer Hardie is a student at the University of California at Santa Cruz taking Creative Writing and Philosophy courses. Graduating soon and looking forward to a career in law, he hopes to dive into the legalities of genetic legislation and its still-forming path. He has written for three city newspapers, as well as a promoter for San Diego’s biggest radio station. Always looking for an opportunity to gain experience and form new relationships, Sawyer is always eager for a project of any sort. When not studying or playing sports, he remains active as a 12 year musician and has been in a handful of bands for over 5 years.

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