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.
8 Tips to Building a Low-Cost Cabin. As inexpensive and affordable as a log cabin is, you can make it even cheaper with a little pre-planning.Here are eight tips you should follow to maximize your cabin construction budget.1. Keep it simple with a small footprint.And stick to the stock floor plan â customizing a cabin can add costs in a hurry.s inexpensive and affordable as a log cabin is, you can make it even cheaper with a little pre-planning. Here are eight tips you should follow to maximize your cabin construction budget. 1. Keep it simple with a small footprint. And stick to the stock floor plan â customizing a cabin can add costs in a hurry.