A few tips to help you achieve your financial goals in relation to your income tax liability.

1. Money Saving Income Tax Tips How to do it right the first time!

2. 5 Tips from SCORE Consult a tax advisor Pay estimated taxes Keep good records Ask about special deductions Schedule an annual “tax tune-up” to plan your tax strategy.

3. Choose your Ally Consult a tax advisor, especially if you are a start-up. Having a professional support you can save you time and money while keeping you in compliance with the IRS. The I.R.S.

4. Pay Them Forward Pay estimated federal and state taxes four times a year. Due dates are the 15th of Jan, April, July, and Oct. Your tax advisor can help you determine how much to set aside ahead of time for each payment.

5. Get It In Writing When both earning and spending money Ask yourself, “Will It Hold Up In Court.” The burden of proof lies with you. Actively remember to get and keep every receipt, no matter how small. If a dollar moves, in or out, have a document to prove it.

6. Get EVERY Dollar Ask your tax advisor about special deductions you can take as a small-business owner—such as allowances for health insurance, long-term care insurance, or self-employment tax.

7. Check Yourself Regularly “If you fail to plan, you plan to fail!” Schedule a “tax tune-up” at least once a year. Update your tax advisor on your situation and your goals Planning your tax strategy for the coming year.

8. the Recovery Rebate Credit? You may be eligible to receive this credit if: You did NOT receive an economic stimulus payment. You received less than the maximum economic stimulus payment; if your qualifying income was too high or too low. You gained an additional qualifying child this year. You could be claimed as a dependent on someone else’s tax return last year, but who cannot be claimed as a dependent on another return this year. You did not have a valid Social Security number last year but who did receive one this year.

9. References/Resources SCORE.org IRS.gov NewYorkTimes.com