When it comes to savings, setting aside a certain amount of money is only the beginning of the process. You should aim to save money with growth in mind, but even more importantly, you should save in a way that keeps your tax liability as low as possible. To achieve this goal, you need to learn how to save with taxes in mind.
Maximize Your 401k
If you have an employer who offers a 401k savings plan and you can afford to maximize your contributions, there is no reason you should not be doing so. Read More»
If you have tax debt, you need to take that debt seriously. If you don’t, the IRS could come after your home and vehicle. When it comes to dealing with tax debt, you need to have a plan.
Don’t Ignore Things
You should not ignore any debt that you have with the IRS. The IRS can seize money from your bank, and they can even take away your home and your car if you don’t pay your taxes. Read More»
Dealing with taxes can get messy. You may dread tax season because you’re afraid that you will do your taxes wrong or that you won’t get them filed in a timely manner. Instead of stressing out and being afraid of taxes, why not hire a tax pro? There are tax help services and similar resources to help educate you so that you know what you’re doing. Here are some of the main reasons to get tax help before attempting to file your own taxes: Read More»
December is your last month to make many tax moves that will reduce your tax bill and increase your refund next year. Carve out some time during this busy holiday month to make sure that you are set-up for doing your 1040 tax preparation for individuals next year.
Max Out Your Retirement Plan
Pay yourself this December by maxing out your retirement accounts. Putting money into an IRA, 401(k) or 403 (b) will directly reduce your taxable income. Read More»
As a small business owner, it is important to keep accurate track of your money. Keeping accurate track of your money will help you know what to write off when tax season comes around. Keeping accurate track of your business’s money will also help you make smart financial decisions about the direction in which to move your company.
Open A Business Banking & Credit Card Account
The first thing you need to make sure that you have set up is a dedicated business banking account and credit card. Read More»
