If filing your taxes are indicative to the way you studied for exams in college, it’s highly likely you’ll be scrambling to get your taxes done at the very last minute this year. When we wait until the last minute, we often forget small yet important tax moves that can either save us money or make us money before we actually e-file or sign on the bottom line. Here are some last-minute tax moves to consider before you file. The IRA Can Be Your Friend So many people have small businesses or 1099 income and forget that even if they have retirement plan at work they can still contribute to a SEP-IRA plan. For 2017, the Simplified Employee Pension IRA can be used for those that have 1099 income, an LCC, or an S-Corporation. You can generally fund these up to 25% of total compensation (salary in an S-Corporation) or $54,000 for 2017 for those under the age of 50. ...
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Last Minute Tax Moves Before You File
Apr 13, 2018
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Featured Articles, Gen X & Y Financial Advice, Taxes
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