Minimize taxes from "summary" of The Bogleheads' Guide to Investing by Taylor Larimore,Mel Lindauer,Michael LeBoeuf
The modern income tax era began in 1913 with the passage of the 16th Amendment to the Constitution. Initially, the tax was levied only on the wealthy, but over time it trickled down to the middle class. The U. S. tax code is now a complex labyrinth of rules and regulations that can be intimidating to the average investor. However, if you want to maximize your investment returns, you need to understand how taxes affect your bottom line. Taxes can eat into your investment returns, so it's important to minimize them whenever possible. One way to do this is by using tax-advantaged accounts like IRAs and 401(k)s. These accounts allow your money to grow tax-free or tax-deferred, giving you a significant advantage over taxable accounts. By taking advantage of these accounts, you can potentially save thousands of dollars in taxes over the long term. Another way to minimize taxes is by being strategic about when you buy...
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