Before entrusting our firm with his tax planning needs, Mark, a prosperous Dentist, grappled with a federal tax liability totaling $124,000 and an effective tax rate of 24.4%. Upon thorough examination through our advisory services, we identified strategic avenues for significant tax reduction by introducing short-term rental properties into Mark’s portfolio. With our expert guidance, Mark successfully acquired two short-term rentals, resulting in a remarkable transformation of his federal tax liability, which dwindled to a mere $23,000. Encouraged by this success, Mark is enthusiastic about perpetuating this proven strategy to consistently minimize his tax liability in the years to come.
Can Grandparents Contribute to a 529 Plan? Key Insights for 2025
Introduction: Can Grandparents Contribute to a 529 Plan? Yes, grandparents can contribute to a 529 plan! As college costs continue to rise, many families are