REI WEALTH MONTHLY Issue 33 | Page 63

SOLO 401K: A TAX SAVING STRATEGY FOR REAL ESTATE INVESTORS DMITRIY FOMICHENKO

Solo 401k: A Tax Saving Strategy for Real Estate Investors

By Dmitriy Fomichenko

I f you’ re a tax­paying citizen, this quote is likely to make perfect sense to you. Nobody loves taxes, at least at a deep intrinsic level, irrespective of it being a responsibility we must share. According to a report published on the Motley Fool, a finance website, out of the gross tax collections worth $ 2.86 trillion in

2013, individuals paid $ 1.54 trillion or 54 % of them, with an average individual tax bill of $ 8,548.