.: Tax Planning Top Related Articles
1). Heath Savings Accounts (HSAs) Mean Big Tax Savings
Concerned about the high cost of healthcare? Worried that your insurance doesn’t cover all your costs? Fortunately, a partial solution may be just around the corner. Since January 2004, taxpayers have had a tax savings tool called Health Savings Accounts, or HSAs. These HSAs may solve many of your healthcare cost problems.
How an HSA Works
In a nutshell, HSAs work like this.
Article tags: health savings account, hsa, tax planning, tax saving
2). 3 Tips For Keeping Proper Tax Records For Your Home Business – And Keeping The IRS Happy!
The last thing most people think about when starting a business is doing taxes. But proper planning will make doing your taxes much easier - and keep the IRS happy!
Here are 3 simple tips for keeping proper records:
1. Whenever you buy anything for your business, keep the receipt!
Not only will this make record keeping a lot simpler, but if you are ever audited (having your tax return reviewed in detail by the IRS), you can prove your expenses, and save yourself money.
Article tags: build wealth, personal finance, save money, tax planning, irs, retirement planning, record keeping
3). Top 7 Ways to Minimize Your Income Taxes
Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:
1. Participate in company retirement plans. Every dollar you contribute will reduce your taxable income and thus your income taxes. Similarly, enroll in your company’s flexible spending account.
Article tags: tax planning, income taxes, saving on taxes, financial planning
4). Top 7 Small Business Tax Tips
Here are seven ways for owners of small businesses to save money on their taxes.
1. Incorporate Yourself: If you`re still a proprietor or partner of a business, it`s time to incorporate yourself. Not only will you limit your liability, but you may enjoy lower tax rates on small business income and other tax advantages as well.
2. Be Home Based: If possible, continue (or switch to) being a home based business.
Article tags: income taxes, reduce taxes, income split, tax planning, incorporate, home based
5). Using This Years Taxes to Save On Next Years Taxes
You just got done paying taxes or filing an extension and are grumpy. If you are smart, you will use this miserable event to save some cash for next year.
Using This Years Taxes to Save On Next Years Taxes
For most people, preparing and filing taxes is the equivalent of sticking a pin in a body part. It simply is not fun. Heck, it is not even amusing.
Article tags: tax, taxes, irs, tax return, filing, cpa, accountant, tax planning, paying taxes