December 31st is approaching fast.
That’s why, if you act promptly, before people start shouting “Happy New Year!,” you can save a lot on taxes.
How? Well, in my new article I’ll outline five money-saving strategies designed to save you money. BIG money.
So get going while the going is good and read my new article titled Tax Tips: 2015 Last-Minute Year-End General Business Deductions.
Five ways our fact-filled article can help you:
Strategy #1: Prepay expenses by sailing into the IRS’s Safe Harbor. Thanks to IRS regulation 1.263(a)-4(f), you can owe Uncle Sam a lot less money if you know how to play the game. You’ll get all the details when you read the full article.
Strategy #2: Stop billing customers and patients. This battle-tested strategy makes it easy to reduce your 2015 taxable income as you’ll learn when you read the full article.
Strategy #3: Start buying office equipment. The 2015 limit on Section 179 expensing is a mere $25,000. But lawmakers may soon reinstate the previous $500,000 expensing limit. You’ll get the whole story when you read the full article.
Strategy #4: Start using your credit cards. Whether you’re a sole proprietor or run your business as a corporation, now is the time to put your credit cards to use. Why? You’ll find out when you read the full article.
Strategy #5: Don’t assume you’re taking too many deductions. If your business deductions exceed your business income, you have a tax loss for the year. Tax law calls this a “net operating loss,” or NOL. The good news? Your NOL can be your friend as you’ll learn when you read the full article.