Tax Deductions, Extensions, and Maintaining your Sanity
Tax season is approaching, and while it might feel like a roller coaster, we’ve got your back! In this episode, we’re sharing practical strategies to navigate the chaos, reduce stress, and stay on top of your tax game. Discover how to make the most of tax professionals and strategists, manage the flood of tax documents, and uncover valuable deductions, even if you don’t have a mortgage or kids. We also break down the perks of filing tax extensions, the importance of making quarterly tax payments, and how to maximize credit card points when paying your taxes. Plus, we’re spilling the details on how to stay organized, save money, and keep tax season from feeling overwhelming. Tune in for tips that’ll make tax season feel a little less taxing!
[00:02:04] Tax Season Struggles and Strategies
[00:04:00] How Employing Your Child Can Provide Tax Benefits
[00:13:33] Hiring a Tax Accountant vs. Doing It Yourself
[00:24:25] Navigating Business Partnership Taxes
[00:25:21] Mastering the Basics of Tax Filing and Compliance
[00:28:02] The Benefits of Filing Tax Extensions and Exploring Cash Balance Plans
[00:34:03] Quarterly Tax Payments and How to Navigate Safe Harbor Rules
[00:40:45] Maximizing Tax Deductions
[00:45:15] 'Fun money' moments after managing their tax obligations
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