As a small business owner, the idea of tax planning may seem overwhelming and can sometimes even get ignored. But if you’re able to put into practice some good tax planning habits and even meet with a tax advisor quarterly, you’ll find that you can take advantage of provisions, credits, and deductions that may considerably reduce your taxes. Below are just a few items to think about as we near the close of 2015.
Unless you have filed an extension, everyone’s personal tax returns were due April 15th. So this makes now a great time to assess your tax situation so you can make adjustments to improve your tax situation for 2015. We really should never just have tax planning on auto pilot. Financial circumstances are always changing and most often, these changes have an impact in our tax situation.
2014 is almost over, yet there is still plenty of time to take a few financial actions that could have a big impact on your 2014 financial condition. There are a handful of smart decisions to consider making before the end of the year.
There are many ways people try to alleviate the costs associated with higher education. But did you know you could potentially save money by deducting student loan interest?
Do you already have plans to spend your tax rebate before you even get it? Planning on buying a new TV, cell phone, or computer? Stop and think for a minute about your financial situation before you start your shopping spree. Here are a few tips to help you be smart with your tax rebate.
For millions of Americans, they have or will soon receive a tax refund check this year. This year’s average refund check has been nearly $2,900 per return. There are several prudent choices for your tax refund and even a few fun ways to spend it if you just have to spend the refund.
Is there a cause you really care about? Giving to a charitable organization is a great way to make an impact on that cause. There are millions of charities in the United States alone, and with that comes a high level of competition. Consequently, charities have resorted to telephone solicitations and stuffing your mailbox with pamphlets, leaving you feeling guilty for not knowing where your donations should go. So what do you do?
We won’t argue that giving is great, but before picking a charity, make sure you consider the following things:
As 2012 draws to a close, it’s important to be aware of upcoming tax changes and how to best plan for your specific situation.