The purpose of this article is to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you will realize the cash when you pay less in taxes.
This article gives you five strategies that can prove powerful. And the really great part of this article is that each of the following five strategies is easy to understand and implement.
Prepay expenses using the IRS safe harbor.
Stop billing customers and patients.
See if the tax extenders legislation passes, and then buy office equipment.
Use your business and/or personal credit cards.
Don’t assume you are taking too many deductions.
Let’s examine how the deductions work. ... Log in to view full article.