Tax Tip 5 Deducting Vacation Travel Expenses. Try to combine business (a meeting with a client or possible client, checking out some material or resources for your business, etc.) with your vacation travel. As long as your trip is documented in advance showing an intent to, in some way, build up your business, your travel expenses become business expense deductions. Meals, hotel rooms, plane tickets, car rentals, even certain expenses for entertainment are deductible as business expenses with proper documentation.

Tax Tip 6 Deducting phone, internet service, and utility bills If phone calls, Internet service, or utilities are used for legitimate business purposes, then, with proper documentation, they become tax-deductible business expenses. If you have a credit or debit card solely for your business, and you probably should, annual fees and interest payments are also tax-deductible business expenses.

Tax Tip 7 Cutting your taxes when selling appreciated assets When you are planning to liquidate appreciated assets such as stocks, give them to your child or other trusted family member in a lower tax bracket than you. When they sell assets, they will pay taxes at their lower tax rate. Another excellent method is to donate your appreciated assets to your favorite church or charitable organization. You are allowed to deduct full value of assets as a charitable contribution, and neither you nor organization will pay any capital gains taxes on assets.

It would be advisable to consult a tax professional or accountant for proper planning and documentation for some of more complicated tax strategies, but using these strategies could save you thousands of dollars in taxes. Next time we will take a look at some of less familiar tax strategies useful for individual and family.

Article by: Naomi Knudsen Do you like to SAVE on shopping, medical bills, taxes..? http://ahealthyyou.tripod.com

Let’s look at some items or habits you can stop this month in order to start saving (Use your items and figures that you had logged into you daily expenditures).

$208/yr – newspaper $72/yr – 1 movie a month at $6 $720/yr – 20 breakfast drinks a month at $4 $48/yr – 1 magazine at $4 a month

GRAND TOTAL of SAVINGS a YEAR=$1,048

In ten years that would be $10,4800

Now, think a minute, what can you do with that $1,048 extra a year or that $10,4800 in ten years?

Get a big jar; water bottle, tin can, piggy bank, or something to start throwing your MONEY into (don’t forget a container for your car).

If you pay cash for a daily newspaper, throw your paper cost DAILY into your container. If you pay monthly, write yourself a check for that cost. Start a new habit by being selective on what you NEED to read and see if you can read it on Internet or at library. Can you hear about it on tv news? Better yet, try a life change and STOP readin gor listening to news and start making your own * news * to share with relatives and friends.

When you go to rent a movie, STOP, and throw that money into your container. See if movie is at library, if a friend has it to borrow, or wait for it to come out on regular tv.

Start making your * special drink * at home in morning. You are now able to ENJOY your * special drink * because now you have more time because; you don’t have to drive to * special drink * place, get out of your car, stand in a sometimes long line, wait for your order to be prepared, and guzzle down your *special drink * while sprinting off, racing off, or dashing down street to wherever you might be headed; NOW you can relax and throw your $4, your stress, problems, and concerns into your container and REALLY ENJOY your * special drink *. (whew, didn’t mean to get off on a rant ).

That magazine that comes monthly, that you never have time to read, and is piling up on table or floor; stop it from coming into your home or office and write yourself a check at renewal time! If you think you can’t live without it, see if a friend gets it and ask to borrow. See if it’s on Internet or at library

I’m not trying to tell you to be a penny pincher or a miser. I just want you to REALLY look at where your money is going. Stop, think, and look at how you can * OverHall * your daily expenditures so you can get some of your hard earned money back and bring a sense of financial BALANCE back into your life.

If you find you are spending money on something that TRULY brings happiness, pleasure, comfort, and BALANCE into your life, then don’t give it up. Although you might consider cutting back on that item.

The Organizing Wizard, Janet L. Hall, is a Professional Organizer, Speaker, and Author. She is owner of OverHall Consulting, and Organizing By Phone. Subscribe to her FREE organizing newsletter at http://www.overhall.com/newsletter.htm or visit her web site at http://www.overhall.com

Copyright ( c ) 1999, 2000, 2001 by OverHall Consulting P.O. Box 263, Port Republic, MD 20676 All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as this copyright notice and full information about contacting author is attached.