In addition to the tax savings available for your contributions to a 401(k), the IRS also offers the Savers Credit if your Adjusted Gross Income (AGI) doesnât exceed certain maximums. This credit offers a dollar-for-dollar reduction of your federal income tax bill.he contributions that you make to a 401(k) plan only reduce your income taxes, not your Social Security and Medicare taxes. These two taxes only apply to your earned income, but you do not get to claim any deductions before these taxes are assessed.
Continuing the cost breakdown for utilities and services, Mike Holmes, a log cabin builder in Montana, says: $3,000 to $8,000 is a good estimate for the new installation of utilities and services for a cabin.
The average construction costs around $525 per square foot with a 200 square foot minimum. Add on another $15,000.00 for Nelson to custom design the plans, and another $30k or so for the logistics if out of town, and youâre looking at a minimum $150,000.00 for a custom tree house built by Nelson and his talented Crew.