For too many people, the tax season is a February-to-April affair. But trying to plan your tax strategies after Dec. 31 is as futile as a football team drawing up its game plan with two minutes left in the fourth quarter: You can't do much to affect the score.
That's why tax-savvy people think of taxes year-round, particularly during the final months of the year. By making a few smart moves as the year winds down, you can slash the tax bills for both you and your business.
The overall strategy is to push income into next year and pull deductions into this year. But don't stop there. In this special issue of Research Recommendations, we've compiled the 25 best tax-cutting strategies. The first section (pages 1 to 4) focuses on tax-saving tips for your small business; the second section (pages 4 to 8) zeros in on your personal tax situation.
SECTION I: BUSINESS TAX SAVINGS
1. Benefit from broad definition...(register to read more)
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- 10 Secrets to an Effective Performance Review
- Small Business Tax Deduction Strategies
- Pay out dividends, pocket tax difference
- Beware the high price of foul language: Expensive trials before unsympathetic judges
- Amend return if broker makes 1099 error
- What are the rules on unpaid interns?