How To Save On Your Tax With Alpha Status Stocks

Hi, I’d like you to meet my new friends Mike and Andrew from Alpha Status Stocks. There is an old truism in the finance world that these two young guns are only too well aware of: Nothing is certain except for death and taxes.They may not be able to save you from the Grim Reaper, but read on and Mike and Andrew from Alpha Status Stocks will help you save up to $20K on your next tax bill!

Mike’s and Andrew’s tips for tax minimisation, while aimed specifically at their followers who may have already made a few hundred thousand following the boy’s investment tips will also resonate with anyone that has an investment portfolio. Remember guys, short term capital gains from your investments will still be taxed at 35-40%, but those of you who are also employees and wage earners will benefit massively from these two tips.

Firstly, the good old 401K! If, for example, you earned $100K in wages for the year you will pay 25% or $25K to the taxman. However, if you pay the maximum contributable amount of $19,500 into a 401K scheme you will reduce your taxable income to $80,500 thereby reducing your tax burden by nearly $5K!

Secondly, some of you may already have heard of another contribution scheme called a Simplified Employee Pension Individual Retirement Arrangement or SEP IRA. A SEP IRA is a retirement investment scheme that an employer establishes on behalf of an employee, and contributes into at the request of the employee. Not their own money of course! Any contributions into SEP IRA come out of the employees wages.

Allowable contributions into a SEP IRA scale up each year so while in 2021 you can contribute a maximum of $58K for 2022 it will be $61K. So if you contribute $58K into a SEP IRA in 2021 it will reduce your already reduced taxable income down to $22,500. Meaning you will only pay just over $5K in tax! Congratulations you have just saved yourself $20K in tax following these two simple and perfectly legal steps. The only downside if you follow these two steps to the max is if you are aiming to take out a loan or a mortgage. The bank will assess your eligibility at your taxable income of $22,500 not on your original earnings of $100K.

Mike and Andrew at Alpha Status Stocks live by a simple philosophy that life should be all about health, wealth, love and happiness. These guys don’t believe that money alone can buy you love or happiness. It’s just that not having to worry constantly about your finances will improve your health and leave you with that extra time to concentrate on love and happiness. First and foremost Alpha Status aims to give you control of your own life regardless of circumstance.

So with this in mind Mike and Andrew want to leave you a few stock tips to help you build your portfolio and start you along the road to financial freedom. This year alone Mike and Andrew have provided their followers with over two hundred market plays that have

generated profits between 5X and 20X the initial investment. Mike’s and Andrew’s top five tech plays of the moment are tickers: MMAT; IQST; PLTR; NMDM and RCAT. Since cannabis stocks keep on getting higher their top seven tips in this field are: TLRY; CGC; HITI; CRLBF; PLNHF; KHRNF and RWBYF. Mike and Andrew don’t expect you to follow all of their tips; they would rather you select only those that you may already be familiar with and are passionate about. So join Mike and Andrew at Alpha Status on their YouTube channel or on their Patreon and on Facebook.

Michael Fraser

Founder & Editor-In-Chief of Entrepreneur Mogul
Latest
Newsletter

Subscribe to our Newsletter

STORIES