What's the best thing to purchase to make a huge tax cut?
» electro answered...There is generally no reason to buy something strictly for the deduction. However, you might alter or accelerate a purchase you will already likely make in order to offset a large tax liability.
As an example-- if you are looking at getting a new vehicle, it might be worth starting a business for yourself to receive a tax deduction for equipment purchase. As I say, no reason to just make the purchase, but if you're already in the market, it might change your decision a little.
It's unlikely, but if you do not have a primary residence that you own, you could turn real estate into a relatively deductible purchase.
The bottom line-- think about any large purchases you might make within or shortly after the tax period you are in. If there are any, look further into the specifics or ask with more specifics here to decide if that purchase should be made sooner than later.
Login now or register to answer this question now. |
Recent Questions:» I have decided to buy a Wii for the family for Christmas; what bundle should I buy? » Write your question in plain English here.what is meant by sedimentation.
» I'm looking for cheap domain hosting. » I am looking for the lowest power using desktop computer I can find. It needs to be at least as powe... » I see 42-inch plasma screens around $700-$800 lately, cheaper than comparable LCDs. Are there major ...
Related ItemsProvided by Shopping.com. |