Ted Bauman is an editor for Banyan Hill Publishing, a company he joined in 2013. he edits three financial newsletters; Alpha Stock Alert, The Bauman Letter, and Plan B Club. His focus as someone in the financial industry is on international migration, privacy, asset protection, and investment strategies that are low risk. He is a resident of Atlanta, Georgia, and in his personal life he enjoys spending time with his family.
One of the ways that Ted Bauman helps is readers is by showing them how they can save money when it comes to taxes. Towards the end of 2017 he published on his blog what he called the “Dirty Dozen” ways to make sure you legally pay as little in the way of taxes as is possible. In compiling this list he took into account the change that the Republican party has framed tax reform so that he can advise everyone of every type of income a way to maximize their tax savings.
In his blog post Ted Bauman says that his positive takeaways from the tax package is that all income groups save money in regards to marginal tax rates. Among these benefit is that most households will benefit more by not itemizing their taxes than doing so, which will not only give them better tax returns but will also save them money by not having to pay professionals to handle their federal taxes. Read more at ezinearticles.com about Ted Bauman
However, Ted Bauman says that not everything is rosy in regard to the plans the Republicans plan to implement. One of his big issues is the elimination of the personal exemption which can cost some families, especially big families with three more children, a lot more under the Republican plan. Another problem he says is that it caps SALT (state, local, and property taxes) at just $10,000 which will mean that many people, especially those in coastal high tax states, a really large amount of additional taxes.
Ted Bauman says that there are ways to manage your finances in away that benefits you in regards to these changes in federal tax. His blog goes into far more detail but some of the things he talks about are prepaying the interest on your next years taxes and getting rid of any student loans you still have outstanding balances on. Additionally, Ted says that you should consider making much more of your charity bequests before the end of 2017 so that you maximize the amount of federal tax benefits you get before those end.