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Episode 11: It's Not Too Late! End of Year Tax Strategies to Implement Now to Save Money
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In this episode, your hosts, Melissan and Eric Broughton, give tax strategies that can save you money if you implement them before the end of the year. These aren’t “loopholes” and they aren’t “shady” practices, these are strategic methods that business owners have been using for decades. Some of the ideas in this episode include:
-Prepay rent or other expenses for for next year
-Delay your final month billing cycle in December to January
-Purchase or replace old equipment or vehicles, but talk to a tax professional to see how selling your old assets first can save you money
-Buy things strategically on credit, which can actually save you money
-Sponsor a local charity event to support your community, get your name recognized, and reduce your taxes
-Most importantly, buy that new ergonomic office chair for yourself!
Listen to hear more about how Melissa and Eric suggest you pause now, look at your books, and start strategizing to save money on your taxes for 2023 before the year is up. You'll also be able to get the 13 steps to saving money on your taxes this year on the website. What are you waiting for?
For more information and to find resources from the show, visit www.busybeeadvisors.com.
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