Types of Creditor & Tax Exemptions

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Types of Creditor & Tax Exemptions 2017-02-01T03:56:34+00:00

CREDITOR EXEMPTIONS

  • Personal: Homestead, Personal Property
  • Business: Tools of Trade, Auto & Truck
  • Wages, Social Security
  • Pension & Retirement
  • Life Insurance & Death Benefits

Special Rules:

  • Federal Bankruptcy Exemptions are not available in California. However, the following non-bankruptcy exemptions are found in US law: Wages, Social Security, Civil Service, and Veteran’s benefits.
  • Special Rules for Retirement Accounts. The IRS recognizes Federal Bankruptcy law for retirement accounts regardless of what state you reside in.

TAX EXEMPTIONS

  • Tax Deductions – reduces earned income
  • Tax Credits – pure tax offsets (no recapture)
  • Tax-Neutral Exemption treatment – avoids negative tax triggers and reassessment
  • Personal & Dependent Exemptions
  • Business & Investment Exemptions
  • Retirement Exemptions
  • Charitable Exemptions
  • Death Exemptions

Tax Savings Equals Improved Cash Flows & Net Returns

There are so many opportunities for tax exemptions and related tax benefits that one may never know if they have exploited (in a good way) all the legal tax savings opportunities, unless they get an Exemption Diagnostic analysis and Report.

>CLICK HERE to get Your EXEMPTION DIAGNOSTIC REPORT today to find out what exemptions you are currently forfeiting, and which ones you may qualify for.