Someone recently asked me what they could do now to make tax time easier for this upcoming tax season.
Top 7 Small Business Tax Tips
Here are seven ways for owners of small businesses to save money on their taxes.
1. Incorporate Yourself: If you`re still a proprietor or partner of a business, it`s time to incorporate yourself. Not only will you limit your liability, but you may enjoy lower tax rates on small business income and other tax advantages as well.
2. Be Home Based: If possible, continue (or switch to) being a home based business. Not only will you keep your overhead down, but you will be a…
Top 7 Ways to Minimize Your Income Taxes
Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:
Using This Years Taxes to Save On Next Years Taxes
You just got done paying taxes or filing an extension and are grumpy. If you are smart, you will use this miserable event to save some cash for next year.
Year End Investment Ideas and Tax Strategies
First thing Monday morning I’m going to march into my boss’s office and demand a pay cut so that I’ll be in a lower tax bracket next year. Profits are the holy grail of investing. Few people will admit just how infrequently they have experienced them or, conversely, just how frequently they have watched them disappear beneath the waves of a correction.
3 Tips For Keeping Proper Tax Records For Your Home Business And Keeping The IRS Happy!
The last thing most people think about when starting a business is doing taxes. But proper planning will make doing your taxes much easier – and keep the IRS happy!
Here are 3 simple tips for keeping proper records:
1. Whenever you buy anything for your business, keep the receipt!
Not only will this make record keeping a lot simpler, but if you are ever audited (having your tax return reviewed in detail by the IRS), you can prove your expenses, and save yourself mo…
Heath Savings Accounts (HSAs) Mean Big Tax Savings
Health Savings Accounts, or HSAs, can save individual taxpayers as much as $1,600 annually in income taxes. Best-selling Quicken for Dummies author and CPA Stephen L. Nelson explains how HSAs work, why they save money, and where one goes to set an HSA up.
Gear up your tax planning with mutual funds. Smart tax saving tips and recommendations – 2008
Investment through Equity linked Saving Schemes not just provide you benefits of tax exemptions but also provide you the high returns of mutual funds. Tax plans like ELSS need to be understood by investors in order to benefit from them while filling their annual tax returns.