StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Vehicles to Minimize Taxes - Essay Example

Cite this document
Summary
The paper "Vehicles to Minimize Taxes" highlights that it is essential to state that whole life insurance is one of those vehicles which contract many tax benefits, i.e. if one doesn’t withdraw interest or gains, and then no income tax will be due-ever…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.1% of users find it useful
Vehicles to Minimize Taxes
Read Text Preview

Extract of sample "Vehicles to Minimize Taxes"

Using charitable trusts is another way to reduce income tax, especially for the ones who belong to the high-income group as these trusts help you to give charity generously, giving you a big tax break (Karayan & Swenson, 2006).

At the time of selling off valuable assets, one can easily minimize Capital Gains tax with the help of one of the most secure asset protection programs known as Private Annuity Tax (PAT) which minimizes even smaller properties like artwork or jewelry. When a property is transferred into PAT, it results in smaller tax expenses. Another way of minimizing Capital Gains is to get an ISA (Individual Savings Account). Investors can put sufficient funds in ISA and gains made inside this account are CGT-free. Moreover, one more strategy is used which is: Investing in small companies through special tax-efficient programs. In this way, one can claim for Capital Gains tax previously paid.

One of the most popular vehicles used to reduce Estate tax is to ‘uniform transfer to minors. Such a type of gifting occurs where your children are minors. The gift is handed over to a guardian and when the children reach the age of majority. Marital transfers are another useful way in which assets are transferred to a surviving spouse, who should not be a non-citizen, which minimized the estate tax which is due. Lastly, Quality Family-Owned Business Interest (QFOBI) is another way in which it reduces the gross value of the state and automatically reduces the amount of estate tax that is charged on the net value of the state (Karayan, et al., 2002).

I am very much hoping that I have provided you with a significant and useful amount of information about the vehicles for reducing taxes and these vehicles could be regarded as substantial means for taxes reduction.  

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Taxes Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1600793-taxes
(Taxes Essay Example | Topics and Well Written Essays - 250 Words)
https://studentshare.org/macro-microeconomics/1600793-taxes.
“Taxes Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/macro-microeconomics/1600793-taxes.
  • Cited: 0 times

CHECK THESE SAMPLES OF Vehicles to Minimize Taxes

Important Attributes in Entrepreneurship

Of importance is to know the personal strength and build on it while putting effort to minimize the weaknesses (Boone & Kurtz, 2010, p.... This research is being carried out to evaluate and present the important attributes in entrepreneurship.... This research will attempt to develop relevant values and integrate them within the business culture....
19 Pages (4750 words) Essay

Alternative Fuel Vehicle

Experts agree that various increased fuel taxes in different parts of the world (such as Europe), strict environmental laws (such as California environmental laws) and increased chances of further restrictions on emission of greenhouse gases, operations on alternative systems of power for heavy fleet vehicles have become a main concern for manufacturers of vehicles and governments across the globe.... Alternative fuel cars minimize smog-forming contaminants through efficient locomotion, but because their internal ignition engine they produce minimal emissions....
5 Pages (1250 words) Essay

Unnecessary Pollution Caused by Commercial Vehicles

The recording of kilometers will help to minimize the diesel fuel cost and also avoid being cheated by the drivers.... The paper gives detailed information about minimizing the usage of vehicles.... The vehicles should undergo periodical maintenance to reduce the cost of repairs.... Again to have control of these hiring costs, a solution is that the factory can again have some secondary vehicles if there are high demands to be met....
9 Pages (2250 words) Assignment

Vehicle Routing and Container Loading Problem

the cost of vehicles to travel from point i to j is given by Cijk, the traveling time for the vehicle from the point i to j is given by tijk, the service time of vehicle K at node iis given by Sik, the cargo type is represented by, the length of the cargo is represented by lp, while the cargo width is represented by wp.... The supplier is faced by the problem of organizing and scheduling his vehicles so that they deliver goods to the clients using the most affordable method....
15 Pages (3750 words) Research Paper

Managing In A Global Context: The Automotive Industry

Toyota's intentional strategy is founded on manufacturing high vehicles that cut across various global market segments.... They have high-end vehicles such as the Land Cruiser Prado, or the Lexus series, which are sold in the western world.... For example, although they have high-end vehicles like the Honda CRV, mostly targeting wealthy European and American clients, the Ford Fit, which is a much smaller fuel-efficient car, is currently the most popular Japanese car brand (Calderwood)....
13 Pages (3250 words) Admission/Application Essay

Commercial Vehicles

to minimize the usage of vehicles, a record of data such as shop outlet location, distance in kilometers and quantity of the stocks can be maintained in a sheet which will be very useful in planning for the deliveries.... The recording of kilometers will help to minimize the diesel fuel cost and also avoid being cheated by the drivers.... In case, there are many shop outlets located in a single sector (any one region), then the number of vehicles to complete the delivery will be reduced....
9 Pages (2250 words) Assignment

Sustainable Manufacturing in the Automobile Industry

The industry is concentrating to minimize harmful noxious gases from the motor vehicles.... The industry has to cater with the ever increasing demands of the consumers with high-quality vehicles as well as it also has to properly finance the R & D.... The study, Sustainable Manufacturing in the Automobile Industry, will be concluded on upon the observation of the study....
17 Pages (4250 words) Assignment

Toyota Production System

As the paper "Toyota Production System" outlines, over the last five to six decades, lean manufacturing concepts were developed mainly in Japan, particularly for Toyota's production system.... These concepts encountered various tests for quite a number of years and passed very easily the test of time....
6 Pages (1500 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us