Tax Expert and Advisor Barry G. Fowler Shows Taxpayers Benefits of Saver’s Credit
Barry G. Fowler, EA, leading expert in tax resolution issues and CEO of Taxation Solutions elaborates on the benefits of the Saver’s Credit in which the government rewards taxpayers for saving for their retirement.
Houston, TX – December 19, 2016 – Barry G. Fowler, CEO of Taxation Solutions, posted a new article on his website entitled “Are You Taking Advantage of the Saver’s Credit?” Mr. Fowler appears to be keen on helping taxpayers get rewarded by the government when they save for retirement.
Fowler writes, “As we get closer to tax season, there’s a benefit that many taxpayers consistently miss out on. I like to help my clients get every benefit from the government they can.” He continues adding, “That’s why I’m taking time to help you familiarize yourself with and understand the tax advantages of the Saver’s Credit.”
According to Fowler, “The real question may be: Are you even aware of this credit?” “Many people are not,” says Fowler, “yet it provides money back into your pocket.” Fowler elaborates, “Also known as the Retirement Savings Contributions Credit, The Saver’s Credit is designed to make it easier for low- to moderate-income taxpayers to save and invest for retirement.”
Fowler explains how the Saver’s Credit works. “In order to claim the tax credit,” he says, “you simply need to be 18 years of age or older. Additionally you cannot be a full-time student nor can you be a dependent on someone else’s tax return.” He continues adding, “The credit is worth 10%, 20%, or 50% of your retirement plan contributions of up to $2,000 per year for singles or $4,000 for couples, depending on your adjusted gross income (AGI).” Fowler urges, “Keep in mind this is an actual tax credit, not a deduction. So you get money back either in your refund or a separate payment that goes right in your pocket.”
According to Fowler, “If … you haven’t saved as much for retirement as you’d like, this could be the extra incentive you need. The government is offering you an instant 10%, 20%, or 50% return on your investment, as well as an opportunity to set yourself up for financial freedom later in life, so take advantage.”
The entire article can be read at https://www.taxationsolutions.net/are-you-taking-advantage-of-the-savers-credit/
About Barry G. Fowler, EA
Barry G. Fowler founded Taxation Solutions out of a genuine concern for the IRS issues his clients face, many of whom are self-employed, contract employees, or entrepreneurs. For his contributions to his profession and expertise in tax resolution and financial planning, Fowler has been featured as one of America’s Trendsetters on CBS and Yahoo, and as a Premier Expert in Inc. Magazine. He has been instrumental in helping hundreds of people resolve complex tax issues with the IRS.
Fowler is licensed to represent taxpayers before the Internal Revenue Service, and is a longstanding member of several tax industry professional organizations: NAEA, NATP, TSEA, ASTPS.