Why Donate?
Ask for a New Year’s Bonus Instead of a Christmas Bonus By delaying your bonus by only a week, you can push the payment of taxes on the income 15 months into the future — a year from next April. Clean Out Your Closets and Donate to Charity You can clean out the old clothes, […]
Did someone say 401k?
Contribute the Maximum to Your 401(k) or 403(b) Retirement Plans Some employers will allow you to catch up on contributions by increasing your deduction on your last paychecks of the year. If you are 50 or over, don’t forget that you can contribute an additional $5,500 “catch-up” contribution in addition to the regular 401(k) or […]
Estimate and Save Reciepts
Estimate Your Taxes. You can use TurboTax TaxCaster to estimate your taxes and see if you need to make any last minute tax moves. The IRS treats income taxes withheld from your paycheck as if they were paid in equal amounts throughout the year. So if your calculations show you’ll owe money, you can increase […]
Accurate Records
The value of accurate financial records goes far beyond tax returns and loan applications. These reports are needed so owners can make the critical decisions necessary to maintain cash flow and to increase finances. Many times these reports are not available to the business owner or the owners simply do not understand what the reports […]