It may be tempting to splurge on tax-deductible items through the entire year. But the settlement in your tax refund certainly will not equal the total cost of the items in question. And, like withholding the cash you need to work with year round is reduced by overspending, in exchange for a lump-sum that you may wind up spending all at once on a big-ticket item. So if you are buying that new tech gadget more because it is tax-deductible than because it is actually needed by you, think again. One note: The same fundamental theory applies to payments that are ongoing, including mortgages and student loans. Talk with your CPA firm in Los Angeles about whether it makes more sense to spread them out and receive the accompanying tax deductions or to pay those balances off immediately.

 

 

Location

USA

Disciplines

• Business

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http://www.cpalosangelesca.com

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http://www.cpalosangelesca.com/