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.
1 Costs for a permit range from a few hundred dollars to thousands of dollars. 2  It's possible to build a log home without prior building experience, but training is required. 3  Several companies offer classes, and costs can range from $800-$4,500 or more. For details see How Much Does Wood Flooring Cost, How Much Do Windows Cost, and How Much Do Doors Cost. 2  Log homes require regular maintenance, with a preservative/sealant stain applied every three to five years. 3  The logs should be inspected annually for excessive cracking.