Welcome back to our two-part blog on how to save on your taxes. If you read part one, you know that Tony - my always entertaining and often in trouble friend - got me thinking about what I can do to save on my taxes this year. He had told me a few “tricks” he used to cut down his tax bill last year. Tricks that I’d be curious (and a bit afraid) to have legally reviewed. So, with legality in mind, I did some research to see what can be done to save on my taxes.
Paying taxes is just a fact of life. Make some money, give a cut of that back. My good friend, Tony, just came back north for the season. He and I were catching up the other day and I was complaining about how much I owed in taxes when I filed. He told me a few things he does to lower his tax bill. They were, ummm, let’s say creative interpretations of what’s allowed. I would not call them strictly legal so I’m not going to pass them along. But the conversation did get me thinking. What can I do (legally) to lower my tax burden?