With the holidays quickly approaching and the end of the year on the horizon, now is the time for some last minute ideas to help reduce the tax bill that may be looming.
Get rid of stocks that are down. If you have any invested money that did not favor you this year, it might be time to end it. If you have capital gains, the losses could offset your earnings, reducing or eliminating any tax you owe.
The winter season can be an interesting time of year. Work has a big high where everyone is trying to get all of their work done before the holidays and then a really big low just in time for the break. This lull in time is the best time to get your company back in order. Below are some tips, just for that!
Know your cash flow situation You cannot account for the future near or far if you do not have an idea of the money coming in and going out. Be proactive in your planning rather than thinking, “oops, we didn’t bill enough last month.”
Don’t you just love the holidays? Shopping, buying and wrapping gifts, cooking and baking holiday treats; between all of it you barely have time to enjoy the holiday sprit or spend time with loved ones.
Often we tend to give the gift of material goods, but experiences make for more memorable presents. Whether it’s a family trip, or another gifted experience it will show that you have put effort into the gift. Another added benefit is that research shows that these presents make people feel more bonded to the gift-giver than a tangible item ever could.
