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Alicia Sisk Morris CPA | Tax Saving Tip from your local CPA
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Tax Saving Tip from your local CPA

11 Dec Tax Saving Tip from your local CPA

Posted at 16:09h in Accounting Tips, Business Tax, General Business Tips, Individual Tax, Tax Tip Monday by Alicia 0 Comments
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Accelerate deductions and defer income. Deferring tax is a cornerstone of tax planning. Generally, this means accelerating deductions into the current year and deferring income into next year. There are plenty of income items and expenses you may be able to control. Consider deferring bonuses, consulting income or self-employment income. On the deduction side, you may be able to accelerate state and local income taxes, interest payments and real estate taxes.

Here are some of my other recent tax tips:

Business Travel Savings

Forgotten Deductions

Retirement Savings

 

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