How Do You Save Money On Taxes?
Do you dread tax time? Do you pretend that you will never have to pay taxes? Does the thought of record keeping and doing taxes make you ill? Do you want to save money on taxes? Try these few steps to save money this year. Stop procrastinating! Set aside a drawer, a file folder, a basket to get all forms, W2’s, interest statements, mortgage statements, and bank statements. The first step in saving money is to face facts and get organized. Go over last years’ tax return. This contains a wealth of information to saving money. Look over all deductions and tax credits. Check filing status. If you have had any life changes, this could have drastic tax implications: * Starting a small business * Changing from self-employed to employee * Birth of a Child * Change in marital status (getting married or divorce) * Adopting * Getting a company vehicle or starting to use personal vehicle for the company * Significant salary increase or decrease * Starting to Invest * Alimony and child support paym
