John Bullis

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June 19, 2012
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Adjusting your tax rates and taxable income

Every taxpayer has the right to organize their affairs in a way to reduce income taxes.

There are many tax rules and "phase outs" of tax benefits. The "phase outs" have many different income levels.

The adjusted gross income can be reduced so the "phase outs" don't cause higher income taxes, by simply making various choices.

Some of the choices of actions include:

• Time the sale of assets that will recognize long term capital gains. The current low rates on long term capital gains (held more than one year) are a bargain. For taxpayers that don't have an income …

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The Nevada Appeal Updated Jun 19, 2012 03:31AM Published Jun 19, 2012 03:30AM Copyright 2012 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.