4 Affordable Luxuries You Shouldn’t Afford
Looking for ways to ensure there’s some extra money at the end of every month? Cut out these 4 expenses.
Grandparents In A Prime Position To Help With College
Grandparents can help with college and lower taxable income.
Travel for Good, Save In Taxes
Travel expenses for charity help lower your taxes.
Made a Bad Loan? There’s a Silver Lining!
So your friend was in a pinch and you thought they’d be good for it and they weren’t. It’s not all bad; you can lower your taxable income as a result.
3 Common Budgeting Mistakes Businesses Can’t Afford To Make
Many businesses regularly overlook 3 common mistakes that wind up costing them dearly and obstructing their path to a successful venture.
A lot of business owners go into business because they are good at making widgets or good at providing a service. New business owners quickly find out that managing financial operations is quite a monumental task. It’s common for business owners to encounter the following pitfalls:
Government Shutdown Delays 2014 Tax Season
How does the government shutdown impact the IRS?
The 16-day government shutdown came at a pivotal time for the IRS as they were prepping their complex systems for the 2014 tax season. Only 10% of IRS were open during the government shutdown. This put the IRS behind by almost 3 weeks.
Significantly Cut Taxable Income
Bundle expenses for itemized deductions.
Will your itemized deductions for 2013 be right around the standard reduction amount? If so, you can bundle expenses for every other year and claim the standard deduction in the in between years. Over two years, this will significantly cut how much income you’re taxed on.
It Pays To Get Paid Later
Deferring income could lower your taxes!
If you work for yourself and pay your taxes in cash, it may be a good idea to hold off on sending out invoices until towards the end of the year. And if your clients pay you net 30 or 60, there’s a good chance you won’t receive payment until 2014. By doing so, you can lower your tax bracket which will lower your taxes.