Besides 401K, are there any other places to put my money so that i save on taxes?
606169
Roth IRA utilizes after tax money. You can contribute up to $3000 annually. This type of investment produces tax free income later in life. Long term savings Great idea!\n\n\nConventional IRA. Uses pre-tax money. shelters some of your income. \nMaximum contribution allowances change. Check current rules.\nGo to: clarkhoward.com for lots of info
1154873
Do you live in a community property state? That makes a huge difference. I believe 401Ks are safe, but you ought to check in your state.
1022786
Invest in your companies 401K plan. If they match your contribution, they can double your money right away.  Ask you HR person for details.
216182
I don't think so. If you want to avoid tax, go to somewhere where they don't have it. Maybe use Swiss bank accounts too.
1153541
1. Put money away in a 401K.   If your company matches it, you can make money on it right away.  Second, it reduces your taxable income (as you are not charged taxes on the money you save), and might put you in a lower tax bracket.  You can save $14,000 annually.\n\nTry $50 a month for starters.\n\nIf your company does not have a 401Kput money into a IRA.  Again, the money you put away is not taxed.  You can save up to $4000 annually.
900036
I just rolled over my 401K to an ING Direct IRA account. They have great options and low maintenance fees. Check them out.  www.ingdirect.com
208027
It depends on your personal finances.  If you own a home and have a mortgage on it, you can deduct the interest.  You have to itemize (schedule A) to get most deductions on a personal return, but once there, you can also deduct charitables and medical expenses if they are very very high relative to your income.  The best strategy for most individuals is to try and minimize your income in the first place by contributing to an IRA (traditional) or to participate in the 401(k) plan where you work.  Not knowing anything about your personal situation, I can't offer much more advice than that.
453308
I just spoke to the principal of an international school about this last week.  His school has worked out a Roth with an office that is in a U.S. territory nearby.  The tax is prepaid so there's no tax or penalty paid at retirement.  Email a investor in the Mainland to see what they can offer.  Some offices are just ignorant of the law, as most folks are for most things like voting, taxes, shipping things to people who are abroad.  You may want to email an investment group someplace like the Virgin Islands, Guam, Puerto Rico...  They're more familiar with policies and retirement programs for Americans living outside the Mainland.
114442
Yes, see a tax adviser on your contribution limits however and to see if a Roth may be right for you.  Also, if your company offers a match, make sure you contribute up to the match limit before contributing to an IRA, otherwise you're leaving money on the table.  When you leave your company, roll the money into an IRA.  Expenses are lower in IRA's than 401(k)'s.  A lot of people like to keep their assets together, but since fees eat a huge portion of your returns, I strongly suggest rolling to an IRA rather than your new company's plan.  Plus, that way you're not limited to whatever investment offerings are in the 401(k), you can choose to invest with whomever you'd like.\n\nGood luck!
531660
You should talk to a representative at your financial institution where you have your IRA. They will be more than happy to give you individualized suggestions.
850760
ING is a sound and strong company. Your savings will be FDIC insured up to 100,000.  Now as to the question of should you put your life savings there.  No.  Not your entire life savings.  The roi will not be sufficient to keep you ahead of inflation after taxes.  Maybe 10 to 20% of you your life savings.  Invest the rest in investments that are likely to keep you ahead of inflation and taxes.  But diversify!
1123171
According to Section 408 of the IRC, you can purchase land, commercial property, condominiums, residential property, trust deeds, or real estate contracts with funds held in many common forms of IRAs.\n\nThe trick is finding an IRA custodian who handles real estate.  But it can be done.  Once you find such a custodian, you would simply roll your 401K into an account.
1011363
don't think you can unless you fild with an online self tax program.  you need to save hard copies of your last three years.
80062
Consult a financial consultant that specializes in Tax-Sheltered investments.  In the days before the IRA and 401K's they were quite popular.
938955
you prolly can, but you will pay HUGE early withdrawl fees and taxes.\n\nit is designed as a RETIREMENT ACCOUNT, the money is for your retirement, that is why early withdrawls out of a 401 {k} are highly troublesome
648897
1. Never spend your saving's\n\n2. Try putting some into high interest account's\n\n3. Personal Pension or 401 K..etc.\n\n4. Invest to reduce your cost of living..etc. (Buying rather than Renting property...etc)\n\n5. Spread your saving's into different Mutual Fund's
144928
You can use Turbo Tax at a 50% discount through Fidelity Investments. You don't have to have an account with them.