Monday, August 15, 2011
Need add'l tax write-offs for end of year - What are some tax deductible investment options?
I currently own a small business LLC/Sole Member, which means that I pay taxes like a Sole Prop with a Schedule C. I will be finalizing some bigger projects before the end of this year, which means additional revenues will be coming in towards the very end of the year. Rather than giving 37% of it to Uncle Sam, I'd like to be smart and invest the additional income. I was hoping to receive some suggestions on tax deductible investment options, other than the usual business expenses I include in my Schedule C. How about property, vacation home to rent, etc? I would appreciate any words of wisdom. Thanks!
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