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 actual log cabin kit: $80,000. 2. Materials for finishing your home: $80,000. 3. Labor (with a local general contractor): $80,000. What they are really saying is that the rough cost estimate of just the âkit packageâ (at that dried in stage) is roughly one third of your total construction costs.