Wondering how you can save tax? It all depends on your spends. We will today take a look at some of the best ways to save tax by making smart investments.
Invest in the stock market – it goes without saying. Invest when the market is down so that you get the best results.
Invest in insurance – believe it or not, you could save tax if you buy insurance. Check to see which insurances are tax deductible.
Invest in your business – any business expense that you may have is not liable to tax. So you could buy in a new computer and if you need it as part of your business you could claim tax savings on it.
Form a new company – Here is the thing. You’re company is distinct for you and you have to pay taxes for your company separately. What will work for you is that company taxes are often lower than individual taxes. Only the amount you pay to yourself would be liable to individual taxes by the government.
These smart but simple tax saving ways can help you save thousands of dollars each year. Are you using them yet?