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Qualify for Tax Credits. Many people don’t realize that a tax credit is the equivalent of free money. Tax deductions reduce the amount of taxable income you can claim, and tax credits reduce the ...
Another strategy to reduce your tax bill on real estate investments is through a 1031 exchange. By using a 1031 exchange, investors can swap one real estate investment property for another and ...
Non-refundable Tax Credits: These only reduce your taxes owed to $0, with no additional refund for excess amounts. Examples include the saver's credit, lifetime learning credit, adoption credit ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
According to Thrivent, a financial services company, contributing up to $7,000 to your IRA could reduce your current taxable income by $7,000 and put you in a lower tax bracket, saving you money ...
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
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