1. www.f3eonline.org | (240) 499-0390 | info@f3eonline.org F3EF3E The Foundation for Financial Education A 501(C)(3) NONPROFIT ORGANIZATION A Financial EducationWorkshop HOSTED BY

2. 3 Types 3 Tax Advisors 1

3. Notes

4. Federal Income Tax Rates 2

5. Notes

6. Taxes Now vs. Taxes Later  Marginal Rates  Mortgage Interest  Child deductions  Tax-free  Tax-deferral  Tax-deductible 3

7. Notes

8. Tax Planning With Retirement Accounts 3 SEP, Simple IRA 529 4 ROTH TSP / ROTH IRA 2 1 TSP - 401(K) - 403(B) 4

9. Notes

10. Taxes With Investments  1099 Dividends / Interest Earned  Rental Properties  Long-term Cap Gains  Ordinary interest / dividends  AMT 5

11. Notes

12.  Revocable Living Trust  Wills  Irrevocable Trust  Estate/Inheritance /State Death Tax  Gifting Tax Planning For Estate 6

13. Notes

14. Most Common Tax Mistakes  Social Security Number  1099/W-2 Matching  Not Reporting All Income  Too Aggressive with Deductions  Not Filing Timely Return  Tracking Basis  Claiming All Dependents 7

15. Notes

16. Itemized Deductions  Mortgage Interest  State / Local Income Taxes vs. Deductible Sales Tax  Property Taxes  Charitable Contributions/Donations  Vehicle Registration  Medical Expenses (Over 7.5% of AGI)  Tax Preparation Expense  Other Miscellaneous Deductions  Gambling Losses Typical Deductible Expenses 8

17. Notes

18. Filing Status 5 Types: ‒Single ‒Married filing Joint ‒Married filing Separate ‒Head of Household (Be careful!) ‒Qualifying Widower with Dependent Child  Marital Status determined on last day of year  Married Filing Separate: If one spouse itemizes then the other MUST also itemize. 9

19. Notes

20. Charitable Remainder Trusts 10

21. Notes