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Tips for Effective Tax and Personal
       Anti-Recession Steps
1. Start Saving NOW!




If you have a nest egg stashed
somewhere, good for you. Boost it
with more savings.




            If you don't, it's time to start immediately.
2. Cut Back On Spending
                 Immediately




If you think you need everything you buy, gather your last few weeks'
     worth of receipts and rate each item according to necessity




Chances are, there are a few things there that you'll realize now that
                    you didn't really have to buy
3. Take Big Chunks Out Of
                 Your Debt
           If you have debts in some form (loans, credit
   cards, mortgage, etc.), try to pay off as much of your debt as
                              possible.




The earlier you do this, the better
   it will be for your finances.
4. Consider Investing? Ask A
                 Professional




An experienced financial adviser can help you understand the kind of
options you have, given your own resources and the type of risks you
                         are willing to take
5. Know Your Deductibles


Review your tax code for the
types of items that you can
 include in your deductibles




                               Remember that not all expenses
                                 can be used as deductions
6. Keep All Receipts
   For Deductions




         Audit or no audit, it pays to have
         documents that support your tax
         claims, especially if they refer to
                    deductions
7. Consider Leasing Your Business
              Vehicle




   This will help get you better deductions compared
   to what you'll receive if you purchased the vehicle
8. When In Doubt, Always Refer
        To A Professional

  The personal anti-recession tips you obtain will usually work
 seamlessly but some steps involving taxes might have certain
                        limitations




Before implementing these steps, you
might want to consult a basic
taxation guide or see an accountant
or bookkeeper
Learn more at:

http://madsencpa.net/

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Tips for Effective Tax and Personal Anti-Recession Steps

  • 1. Tips for Effective Tax and Personal Anti-Recession Steps
  • 2. 1. Start Saving NOW! If you have a nest egg stashed somewhere, good for you. Boost it with more savings. If you don't, it's time to start immediately.
  • 3. 2. Cut Back On Spending Immediately If you think you need everything you buy, gather your last few weeks' worth of receipts and rate each item according to necessity Chances are, there are a few things there that you'll realize now that you didn't really have to buy
  • 4. 3. Take Big Chunks Out Of Your Debt If you have debts in some form (loans, credit cards, mortgage, etc.), try to pay off as much of your debt as possible. The earlier you do this, the better it will be for your finances.
  • 5. 4. Consider Investing? Ask A Professional An experienced financial adviser can help you understand the kind of options you have, given your own resources and the type of risks you are willing to take
  • 6. 5. Know Your Deductibles Review your tax code for the types of items that you can include in your deductibles Remember that not all expenses can be used as deductions
  • 7. 6. Keep All Receipts For Deductions Audit or no audit, it pays to have documents that support your tax claims, especially if they refer to deductions
  • 8. 7. Consider Leasing Your Business Vehicle This will help get you better deductions compared to what you'll receive if you purchased the vehicle
  • 9. 8. When In Doubt, Always Refer To A Professional The personal anti-recession tips you obtain will usually work seamlessly but some steps involving taxes might have certain limitations Before implementing these steps, you might want to consult a basic taxation guide or see an accountant or bookkeeper