Tax Strategies for Individuals

Learn how to lower your taxes with these legitimate tax saving strategies.

Tax Saving Strategies

BAS provides tax saving strategies for deferring income and maximizing deductions and includes some strategies for specific categories of individuals, such as those with high income and those who are self-employed.

Retirement Plan Distributions: When To Take Them

When must you start withdrawing the funds in your retirement plans? And what happens if the funds aren’t withdrawn before you die? To what extent will your heirs be taxed? The rules are complex but there are ways the savvy taxpayer can maximize the tax shelter.

Travel and Entertainment: Maximizing the Tax Benefits

Don’t overpay your income taxes by overlooking expenses which you are entitled to deduct. Use this Financial Guide to ensure you are handling your business travel and entertainment costs in a tax-wise manner.

Retirement Plan Distributions: How To Take Them

If you are thinking of retiring soon, you are about to make a major financial decision: how to take distributions from your retirement plan. And, since the tax treatment of these distributions will influence your decision, we will also review the tax rules.

The “Nanny Tax” Rules: What To Do If You Have Household Employees

If you have a household employee, you may need to pay state and federal employment taxes. Which forms do you need to file for your household employees? Is your maid, housekeeper, or babysitter covered by the rules?

Roth IRAs: How They Work and How To Use Them

Roth IRAs differ from other tax-favored retirement plans, including other IRAs (called “traditional IRAs”), in that they promise complete tax exemption on distribution. There are other important differences as well, and many qualifications about their use.

Higher Education Costs: How To Get The Best Tax Treatment

Various tax benefits, including tax exemption, tax deferral, tax credits, and deductions, are available if you are paying or saving for college or other higher education costs.

Mutual Fund Taxation: How To Cut The Tax Bite

How are distributions from mutual funds taxed? What happens when they are reinvested? How are capital gains on sales of mutual funds determined? We can provide you with tips on reducing the tax on mutual fund activities.

Selling Your Home: How To Minimize the Tax On the Gain

Many tax benefits are available to you when you sell your principal residence. However, the rules are complex and personal guidance is necessary to take full advantage of these benefits so that you and your tax advisor can best work together to minimize the tax on the gain.

Advanced Charity Techniques: Maximizing Your Deduction

There are a number of tax vehicles for turning charitable desires into tax deductions. While these techniques are quite complex, they can with the proper guidance provide substantial tax deductions.

The Deductibility of Points

We can explain when and to what extent points paid on the purchase of a home or on a refinancing are deductible. We can also explain the rules for deducting points and discusses special circumstances and situations.

Charitable Contributions of Property: Maximizing the Deduction

BAS can discuss the rules that apply when you contribute property–as opposed to money–to charity and is meant to provide general information.

Selling Your Home: How To Minimize the Tax On the Gain

Annuities may help you meet some of your mid and long-range goals such as planning for your retirement and for a child’s college education. We can show you how annuities work, discusses the various types of annuities, and helps you determine which annuity product (if any) suits your situation.

Charitable Contributions: How To Give Wisely

Since charities ask for larger and more frequent donations from the public these days, soliciting by mail, telephone, television, and radio, for example, they should be checked out before you donate money or time.