Americans are passionate about taxes. We have reason to be. In recent years, Americans have spent more on taxes than on food, clothing, and housing combined.1 The Tax Foundation estimates Americans will pay $3.4 trillion to the federal government and $1.8 trillion to state and local governments in 2019. 2
If you believe you’re paying too much tax, selecting investment vehicles that emphasize tax-advantaged opportunities could help reduce the amount of taxes you owe. There are tax-free and tax-advantaged options available. Here are a few to consider:
It’s tax season! Every year, around this time, the Internal Revenue Service (IRS) publishes its dirty dozen – a list of scams criminals use to try and ferret out personal information and/or steal money.1 For example, if you received an email from a top executive in your company or organization requesting data from IRS form W2 for the 2019 tax year, what would you do?2
The right answer is: Don’t respond.