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.
For the purpose of this discussion we will look at the cost of constructing a traditional ranch-style home. According to home industry statistics, the size of the average ranch house is 2500 square feet which assumes a footprint of approximately 40'x60 '. The above figures place this construction at a $173 per square foot cost, though national average stands between $125 to $175 for project managers.