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Article Date:
December 2013


Word Count:
1082

 

 

Create Year-End Tax Deductions with Simple Business Expenses


You still have time for some simple, quick, and easy ways to cut your 2013 taxes.

 

In this article, we discuss the following five year-end tax-deduction strategies:

 

1.

Stop billing customers and patients.

2.

Use the IRS safe harbor to prepay your expenses.

3.

Buy office equipment.

4.

Use your credit cards to create tax deductions for you.

5.

Don’t assume you’re taking too many deductions.

 

1. Stop Billing Customers and Patients

 

Here is one rock-solid, easy strategy to reduce your taxable income for this year: Stop billing your customers until after December 31, 2013. (We assume here that you or your corporation is on a cash basis and operates on the calendar year.)

 

Customers, patients, and insurance companies generally don’t pay ... Log in to view full article.

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