This time of year everyone is thinking taxes! With that in mind, we are featuring a guest authored mini-series this week about saving on taxes!Our guest author is Bob O'Brien, a senior instructor at mywealth.com who will offer some great ways to stave off the tax man!
Below post 2 of 6 - Enjoy!
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2. Keeping Bonds in an IRA or Tax Sheltered Accounts
Pretty simple, but most people fail to do this. Bonds pay interest which is taxed as ordinary income, as opposed to the favorable 15% tax rate for capital gains and dividends. Ordinary income for most is usually at least 25% and in many cases higher. Making tax sheltered accounts like IRA’s and 401k’s the best home for Bonds.
Check back tomorrow for part 3 of our 6 part series from guest author Bob O'Brien, or subscribe below to ensure you don't miss it!
Also seen as a featured post here: http://www.pimpyourfinances.com/2009/01/money-hacks-carnival-presidential-edition/
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