Friday Four came and left. Sorry guys. I totally forgot. But I’m gonna make it up to you right now. Today, I’m giving you 4 (four) ways to write off a huge chunk of your summer. Yes, I said what I said—- Write a huge chunk of your summer off by identifying really smart tax saving strategies!
Without any delay, follow these tips right now!
- Write off Camp. Each summer my four little guys go to the following four camps: Who Got Game, B.A.M., Ish Smith Development , and Impact Camp (at JCSU) Here’s how to use it- If your child is under 13. Hold onto your recipes. Use that time as childcare expenses while you work. Hmmmmm– Sleep away camp doesn’t count. -Sorry!
- Hit The Road With Jack & the kids! Go on a family trip Rent the Car and pile them in! While you’re away – Talk About Your Business! Heck, take pictures of you sharing your business! The main purpose for the trip must be business! You’ll get not only the mileage deduction, but also a generous deduction on all of your business related cost. Hmmmmm. Hire your family for larger deductions .
- Hire Your Kids. Well, I kinda mentioned it earlier, I’ll go a bit more in depth here. If your kids are gonna be out of school for the summer. Hire them. Give them paid training, and actually put them to work. You can deduct their wages on your tax return! Why not get an employee that won’t complain about lunch. They either take it or leave it. Talk about parent perks! I had my sons help create content for my budding tax business . Hmmmmm. Shifting income to your child is genius! They tend to have a lower tax bracket!!! And if they are under 18 years old, pat yourself on the back and kiss those FICA taxes goodbye!
- Cancel The Entire Summer! If you bought timeshare like did thinking that you’d be a beach bum this summer, let me hit the alarm for you! As tempting as it maybe; don’t do it! Become the ginger bread man and walk away as fast as you can! Now if you got purchased the timeshare, and realized that your children have a sports calendar that leaves no time for weekend getaways to your cozy spot, here’s what you should do with it…….rent it out! Get your coins for that time. Go off season and save BIG! Hmmmmm . Look, no one like a deal more than I do! Iam 100% open to share my time withyou, as well as other deals. Just follow me over on QC Supermom .
Okay, so – that’s four! Whatcha think? You love it? If so, share it. Tag it. Use it! Time to go now. See ya’ll Monday! – Kelle, QC Supermom