Income Shifting Tax Strategies

Income shifting tax strategies involve when and how you take income. This can include changing the timing of your income or changing who/what receives the income for tax purposes.

 

Examples include:

  • Using the Augusta Rule to receive tax-free rental income
  • Changing the timing of when you take capital gains
  • Gifting appreciated stocks to children/family members
  • Hiring your children
  • Making a like-kind exchange when you sell real estate
  • Tax loss harvesting
  • Tax gain harvesting
  • Selling assets using an installment sale

 

To learn more about how these strategies work, how much you could save, and how to put these strategies into action, contact a tax advisor now.