If you have to report large gains, you should consider accelerating losses by this method. Solomon advises learning about various education credits and the deductibility of student loan interest. Earnings accumulate tax-free for years. It has other advantages over the traditional IRA as well. Starting your own business also has many favorable benefits, Solomon adds.
Homeowners can take advantage of beneficial home sale rules.
What's more, enterprising individuals can do this every two years. Erin Flynn is a freelance writer and managing editor of Stephan Schiffman's Executive Sales Briefing , a newsletter for sales professionals in every industry. She has interviewed successful authors, business consultants, and sales experts. All rights reserved.