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Sunday, January 29, 2012

WSJ: What You Can Learn From Mitt Romney's Tax Return

Mitt WSJWall Street Journal, What You Can Learn From Mitt's Tax Return, by Laura Saunders:

[Mitt Romney's tax returns] lift the veil on how the wealthy can use the tax code to their advantage. Here are some lessons the experts have gleaned:

  • Avoid salary, wages and tips to the extent possible
  • Muni-bond interest isn't the be-all and end-all
  • Strive for "qualified" dividends
  • If you have a "Schedule C" business, think twice before claiming a home-office deduction
  • Generate income from long-term capital gains
  • Know the score on itemized deductions
  • Capital gains and dividends can help trigger the AMT
  • Beware of small benefits requiring large tax-prep efforts
  • Offshore investments can save onshore taxes

http://taxprof.typepad.com/taxprof_blog/2012/01/wsjj-what-.html

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Comments

"Avoid salary, wages and tips to the extent possible"

Well, we've got how many millions who've got that part right?

Posted by: J. Wiedwald | Jan 29, 2012 11:21:45 PM