My taxes last year were over 3 thousand dollars.
2007-03-05 06:13:02 · 3 answers · asked by Holy Pockets 1 in Business & Finance ➔ Taxes ➔ United States
Contribute as much as allowable to an IRA. Do you own your own home? Mortgage Interest is most of the time deductible. Spend more money on things which have tax deductions, so you are investing more in yourself.
If you are self employed this year you can do a "make-up" SIMPLE retirement account and put a bundle in....
http://www.irs.gov/taxtopics/tc451.html
good luck
2007-03-05 06:21:08 · answer #1 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
That is a question many people have asked and it depends on what you are doing now. Make sure you are claiming all the deductions you could be taking now. Depending on your age and if you are married or not, do you own your own home> If you go into business for yourself, just a small one even, on the internet even, would give you all kind of deductions you could be taking and righting off expenses for your business. What is your current status?
2007-03-05 14:29:06 · answer #2 · answered by brensmartusa 1 · 0⤊ 0⤋
Okay, you can hammer me for this but I can't resist.
Have your job "eliminated" unexpectedly like me, and that way your income will be lower!
2007-03-05 14:50:46 · answer #3 · answered by iftaman 2 · 1⤊ 0⤋