In light of the new tax bill the basic advice is this: do everything you can to load up on tax deductions in 2017.
The tax rates are going down next year, so a deduction now is worth more that it will be in 2018. On top of that, several popular deductions are disappearing next year or getting substantially limited. But if you act now, you can get the tax savings you had hoped to take in 2018 for your 2017 return.
Here are five steps to consider doing before January 1 to maximize your tax savings. Most of these savings will relate to those taxpayers who itemize deductions.
Summer is finally starting to come to an end and as we careen towards Labor Day and kids going back to school, you might be missing out on some hidden tax gems that can save you money … if you know where to look.
As experts in taxes and all the accompanying “stuff” that comes from having to talk to people about the intimate details of their spending habits, the team and I see a ton of bad habits in a lot of places. It’s ironic that so many small business owners understand the failure rates of small businesses, yet often don’t show the financial discipline to ensure their own success. With that in mind, we’re going to cover some places that entrepreneurs can save money each month – often quite a bit.