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 4 of 6 - Enjoy!
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4. Keep foreign investments out of tax deferred accounts in order to take advantage of the foreign tax credit
Foreign countries withhold tax on investments in their countries, and you would need to file a return to get the money back. This is not practical, so the IRS allows you to claim a credit to get some of these foreign withholdings back. You cannot get the credit in a tax sheltered account. Again, it's ok to have them in a 401k/IRA, but when you can chose better outside because of this.
Check back tomorrow for part 5 of our 6 part series from guest author Bob O'Brien, or subscribe below to ensure you don't miss it!
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