Taylored Tax

I'm Terrence Taylor. I have my Mba. From Harvard Business School. And I have 30 plus years of experience working for companies in America and in Africa.

We show highly paid, highly taxed, high-profile, high net worth and ultra-high networth taxpayers how to legally shield their income from unfair amounts of taxes so they have more money for the things that matter most. Edna and I were brown together, where I tripled, majored in international relations, economics and Afro American studies. I've worked in investment banking. I've been a vice Preside

nt of risk analysis of Citibank, Indonesia. And I'm currently a faculty member at the Gordon Institute of Business Science in Johannesburg, South Africa, and I've been on the faculty since 2004. I got qualified as a tax professional. So I'm an enrolled agent, and I'm a licensed financial professional.

11/21/2024

Do you know the difference between a tax strategist and a tax accountant?

By understanding the roles of tax strategists and tax accountants, you can make smarter financial decisions and seize tax-advantaged opportunities. With a tax strategist's guidance, you can optimize your tax position and potentially redirect the saved funds into investments, business ventures, or other wealth-building opportunities. Utilize their expertise to not only minimize taxes but also generate tax-advantaged wealth. 💼

Which tax professional are you currently working with?

11/20/2024

Become proactive in tax planning. Educate yourself on tax rules and strategies; don't solely rely on your accountant. Seek a tax advisor who can teach you how to navigate the complexities of the tax system and identify deductions, credits, and exemptions specific to your situation. By taking control, you can uncover opportunities to reduce your tax burden and keep more money in your pocket. 🔍

Learn more with Taylored Tax!

08/02/2024

💡💸Taylored Tax Tip: Convert your 401K into a self-directed Roth IRA.

Convert your 401K into a self-directed Roth IRA to give you more options of
what you invest your retirement funds in. You can invest the funds in a 401K that
you've converted into a self-directed Roth IRA in rental real estate, crypto, and
any other investment the custodian of your self-directed Roth IRA allows.
Convert the funds in your 401K or self-directed IRA into a Roth 401K or Roth IRA
and all the gains and income from real estate will be tax-free.

08/01/2024

💡💸Taylored Tax Tip: Convert your 401K into a Roth 401K, so that you avoid paying taxes when you receive the money in retirement.

Convert your 401K into a Roth 401k and you will pay taxes now, instead of in
your retirement when you hope that the money in your 401K account would be
more or much more. Paying the taxes now makes sense if you believe that your
401K will grow significantly in value. It would mean that you will owe no taxes, no
matter how much your 401K grows between now and when you retire. Many
people make the analogy of paying taxes on the seed versus paying taxes on the
harvest. So, you can discuss with your financial advisor or tax advisor whether
this makes sense for you.

07/31/2024

💡💸Taylored Tax Tip: Maximize using a Roth-IRA to eliminate taxes on the gains in your retirement plans.

Start a Roth-IRA or convert your traditional IRA to a Roth-IRA. Roth-IRA allows
you to put after tax dollars in your retirement savings account. While you do pay
taxes upfront, you don’t pay taxes when you withdraw money. This takes
advantage of a wealth building principle of being taxed on the seed and not on
the harvest. For those who invest in things like crypto, investing in crypto
through a Roth IRA may be ideal for speculation as gains incur no capital gains or
income tax. Roth-IRAs may also provide permanent tax savings.

07/29/2024

💡💸Taylored Tax Tip: Understand that mutual funds, in which a significant part of your IRA(s) are invested, are not tax advantaged.

Mutual funds are not tax-advantaged. Mutual funds may create taxes and
taxable events through things like:
● Capital gains distribution, which creates tax liability in the year the mutual
fund distributes it.
● Distributions in cash or shares may create additional taxes.
● Taxes at ordinary income tax rate for short-term gains.

07/25/2024

💡💸Taylored Tax Tip: Understand the limitations and risks of your Individual Retirement Accounts (IRAs).

An IRA allows you to save in a tax-advantaged way for your retirement.
Traditional IRAs allow you to put pre-tax or untaxed money into a retirement
account that a financial institution, called a custodian, manages for you.

07/24/2024

💡💸Taylored Tax Tip: Convert an estate to a farm.

Converting an estate into a farm could offer several tax benefits, depending on
your specific circumstances. So, you will need to consult with a tax professional
who will advise you on how this could work given your circumstances.
Having said that, some of the benefits of converting an estate to a farm may
include:
● Agricultural tax assessments, which could reduce your property taxes.
● Conservation easement, which could provide income or estate tax
benefits.
● Estate tax benefits that could reduce estate tax liability.
● Income tax deductions which could reduce income taxes.
● Tax credits, which could reduce taxes dollar for dollar.

07/23/2024

💡💸Taylored Tax Tip: Deduct Mortgage Interest, Mortgage Points and Property Taxes for Your Home.

07/22/2024

💡💸Taylored Tax Tip: You can do a 1031 Exchange from one property into multiple properties.

Address

20629 Rolling Creek Road
Pflugerville, TX
78660

Website

https://totayloredtips.com/

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