Slash Your Tax Bill: Top 3 Tax Strategies for Saving Money

I share 3 Tax Saving Tricks You can get "How to Save Tax Legally?"

Let's start!

Thursday, 8:00 am

November 30th, 2023

Mom, Baby Sister, and the person writing this (me) are awake.

Done the Breakfast As Like You.

Not having a wife, Life is Going Well. lol ??

Oh Sorry, Back to Topic. After Breakfast, I receive a Notification on My Mobile.

She said, " I need to file an Income Tax Return, Are you done for me?"

Me: Why not I am here just for You. But You Know the Last date April 15, 2024.

But we prepared Final Accounts and I will tell You "How to Adjust Entries for Saving Money?"

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December is Crucial for Tax Preparers

Who Says, "Tax & Accounting is Boaring Field?"

Here are 3 Top Strategies with Fun which Learned with Experience:

1. Depreciation: Where numbers take a dip, and taxes take a flip!

Is it easy to do? No.

Can you do it? Yes But Hire a Professional

You Know, "My car depreciates faster than I can learn how to drive it."

It helps you:

• Increase depreciation = decrease Tax
• Mostly beneficial = Startups of Business
• Carefully Adjustment = Reduce Taxes Legally
• Reduce Taxations = More Growth Business

There is no Legal Impact. Find a person or do it by Yourself.

2. Playing the Time Game: Prepaid Expenses and Deferred Revenue

Do you Play PUBG?

But I Play with Time "Lost time is never found again"

You need to Play with Prepaid Expense and Deferred Revenue.

It will reduce taxable income in the current Tax year.

You Get guidelines from Accountant or Tax Expert.

Because Deferred Revenue > Prepaid Expenses

We Follow Accrual basis Accounting.

You won't know what will work until the Professional Guidelines.

Do it According to Your Bookkeeping Data.

3. Accrued Expenses and Accrued Revenue: Tax's Love-Hate Relationship

Love is like a fart. If you have to force it, it's probably crap. ????

Come Back to the Topic "What are you thinking about?"

Her Business Accrued Expenses> Accrued Revenue.

Play with Data, It will Make a difference.

Anything I Forget? Comment is Yours

P.S. How do We Unlock the Secrets of Saving Tax Legally? ??