FY 2006 is coming to a close. Many of you may be in a tax bracket where a few thousand dollars in either direction will put you in a different tax bracket. Right now is the time to check and see if additional expenses should be taken in this tax year. Procrastination could increase your tax burden.
I am not a Lawyer or a Tax Planner, so nothing in this post is to be construed as legal or financial advice. However, during these last few days of the year, I am making additional payments to programmers, charities, and taking other expenses as appropriate. Others are making moves such as buying websites and domains.
As an entrepreneur, your taxes are rarely as simple as when you may have had a job. Make sure you are taking the necessary steps to keep as much of your hard earned money as possible.
One Response to “End of the Year Business and Tax Planning”
Leave a Reply
You must be logged in to post a comment.
[…] The approach of 2007 can no be counted in hours. Time is rapidly running out to finalize your taxes and complete goals you set for yourself at the beginning of the year. […]