Showing posts from October, 2021

Tax Planning Strategies to reduce your tax bill

If you are like many Americans coming out of this pandemic, your life may be different in many ways. One way is that you may have found yourself earning income in a way you never have before.  With so many people exploring alternate income avenues, now is a good time to talk with a tax expert about ways to make sure you don't end up with a huge tax bill in April.   I've put together some simple and highly effective gems that can help you save on your taxes, and maybe even help you build some savings and/or wealth.   The first thing to remember about taxes is that there is a distinct difference between evasion and avoidance. Avoidance is not going to land you in a prison cell.  Avoidance is what good tax professionals are skilled at helping taxpayers accomplish.   Before we explore strategies, it is important for me to mention to all of you out there earning gig income selling goods and services online is that the IRS will know about it whether you report it or not.  All banking