In this video, we're going to talk about what income taxes are and we'll dig into the basics of Maryland income taxes.

We’ll also show you different tax planning strategies that can significantly reduce your taxes:

1. Invest in renewable energy projects that make you eligible for significant government tax incentives to lower your income: [ Ссылка ]

2. Maximize retirement contributions through retirement accounts like a 401(k) or an IRA

3. Use CLATs to pass on assets to future generations and charitable causes while avoiding estate taxes and not using your limited gift exemption: [ Ссылка ]

3. For ultra high net worth individuals, Private Placement Life Insurance can be a good option to avoid income and capital gains taxes while providing insurance for your family: [ Ссылка ]

If you want to learn more you can check out our other videos or:

- Read through our content in valur.io

- Set up a call to answer your questions: [ Ссылка ]

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