fromBusiness Matters
1 week agoSurge in employee ownership as business owners seek tax-efficient exits
"There's no doubt EOTs have taken off because the tax relief is now far more attractive," said Martin Cooper, a partner at RSM.
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"There's no doubt EOTs have taken off because the tax relief is now far more attractive," said Martin Cooper, a partner at RSM.
"I'm obsessed with the Roth as a way to save for retirement." Howard emphasizes that saving through a Roth guarantees you get the full benefit of your contributions, unlike traditional 401(k)s where taxes apply later.
The standard deduction is a fixed amount that reduces taxable income dollar-for-dollar, helping taxpayers save money. Most taxpayers opt for this over itemized deductions.