Lower Your Income Tax Legally

There is a perfectly legal way to reduce your income tax!

(PRWEB) February 27, 2005 -- The IRS got Congress to wipe out most tax shelters in the 1980s. There used to be plenty of them - ranging from oil drilling to cattle feeding to movie production.

Now there are only two worth mentioning. Both are quite common. While there is extensive general knowledge about these shelters, what is not generally known is how to use them.

A tax shelter is a procedure that reduces the taxpayers taxable income. Most of the monetary items that can reduce income are limited by the IRS. Remember when the IRA first appeared? You were allowed to place a limited amount of money into an IRA account that was not taxed until you withdrew it (after age 55 when you would be in a presumable lower tax bracket).

Now, a charitable organization is promoting one of these shelters to raise money. Sickle Cell Anemia & Charity, Inc. (SCAACI) hopes to raise $250,000 for a down payment on a small office building in New Jersey by selling information on this shelter. Visit www.scaaci.org.

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