What Can You Do In The Next 13 Days!
We all have been programmed to believe that April 15th is the tax deadline in the USA.
However, the real deadline is December 31. After this date, the only real tax deduction you can get is the IRA or SEP IRA deduction. Which, in most cases, is paltry at best.
Pretty soon, you will start seeing the same old year end tax tips that just get recycled every year.
Do not fall into the many traps buy following these tips. Buy things you do not need in order to save taxes is a waste! Selling stocks at a loss is not a wise deccison in most cases!
It begs the question, what can I do to save money on my taxes now? Great question.
1.) Start a home based business. Don’t wait till 2017.
2.) If you have a business already, buy any big items for business now. Buy them ONLY if you would have gotten them in 2017. Don’t buy things you do not need.
3.) If you are a sole proprietor and have children between the ages of 7 and 17, pay them a Christmas bonus. CLICK HERE to get the info on how to do that!
4.) If you cannot take advantage of any of the prior items, start planning for 2017 buy finding out how to get all of the deductions available to you. CLICK HERE to learn more.
Here is a quick example on how to pay for your holiday spending by writing one check!
You have to have a home based business and children between 7 and 17 years of age.
You can pay each child up to about $6,000 each year (changes every year). Just this deduction alone save about $1,200 per year for the average family. That’s enough to pay for your holiday spending!**
You work hard for your money, don’t let it slip to the government!
** Small print – every tax situation is different. Example is based on averages. Your savings may be higher or lower.