It’s another Expert Briefs, where I ask really smart business owners to answer your burning questions. This week I asked our panel of experts the same thing I asked last year and the year before (since 2008) …
“If you made more money this year than last year, your quarterly taxes probably won’t be enough to cover what you owe (since you’ll owe more), assuming everything else in your life remains the same.
At the end of the Year, because I’ve been fortunate enough that my income has grown every year, I Normally End up Making Several Large Purchases in Order to Decrease my Taxable Income for Next Year.
Do you have ways you reduce your taxable income? If so, what kinds of things do you purchase?”
How to Reduce Your Taxable Income Quickly and Legally - for Entrepreneurs
Posted by Nicole Dean under Online MarketingFrom http://www.nicoleonthenet.com 3820 days ago
Who Voted for this Story
Subscribe
“In the ever-evolving landscape of Search Engine Optimization (SEO),...”
“Rachel: Great to hear! Thanks for your kind words! :)
All the Best,
Martin...”
“Thank you, Martin. That's a fantastic motto... and I couldn't agree more!...”
“Lisa: Good to hear! Thanks for your response....”
“For sure, I know I did years ago when I was working for others....”
Comments
3820 days ago
And thanks for sharing this post with the BizSugar community. I think this advice is particularly relevant to entrepreneurs since their incomes will invariably fluctuate. It’s also, as you said, important to consult an accountant first to make sure the purchases you make are appropriate.