Unhappy with your 2011 tax bill? Tax credits can be extremely beneficial to taxpayers who are phased-out of other potential deductions due to their income level. Tax credits are also more beneficial than tax deductions because a credit lowers your tax bill dollar for dollar; a deduction lowers your taxable income, meaning it’s value depends on your tax bracket. For example, if you’re in the 25% bracket, a $1,000 deduction lowers your tax bill by $250. However, a $1,000 credit lowers the bill by the full $1,000, no matter which bracket you’re in.
If you meet the “accredited investor” status, and would be interested in learning about an investment opportunity that can earn you Kansas tax credits, please contact me. The SEC defines an accredited investor as any natural person whose individual net worth, or joint net worth with that person’s spouse exceeds $1,000,000, or any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.