Weekly financial tip with Steve Sexton: Saving money on your tax return
Steve Sexton, our trusted financial advisor, offers you another great financial tip this week. You can reduce your taxes by taking a few simple steps, and what better time than now. In the coming years taxes will likely be going up. Watch the video below to learn how you can stop the money form falling through the cracks on your tax returns next year.
Steve explains that the easiest way to save money is to not pay taxes on money you are not spending. Sounds easy enough, right? Believe it or not, it is a very common problem that affect many tax payers the Sexton Advisory Group sees.
If you only pay taxes on money you are spending and evaluate money lost, you could significantly lower the money you claim as income. Move funds from IRAs and dividends to be used later through a deferral process. You will be able to get the money you need when you need it, but your taxes are decreased tremendously. As a result, you save money. And who doesn’t like that?
Are you looking for more ways to save money? Steve Sexton offers weekly financial tips on SDEntertainer.com. Lean how to formulate the perfect investment strategy for you through a proper understanding of risk. Once you understand your risk comfort level you will be able to properly assign your investments into categories you are satisfied with. Last week Steve explained the Three Worlds of Investing, to learn more, watch last week’s clip now.
You can watch Steve Sexton every week on E&L TV, on San Diego Channel 4 at 11:00pm.
The Entertainer & Lifestyles Magazine has partnered with a top local financial expert to provide ongoing financial advisories. As part of the Entertainer’s continued commitment to San Diego’s financial wellbeing, Steve Sexton will continue to contribute and provide financial advice to our readers. Learn more about Steve Sexton on the Entertainer or tune in next week for another tip.