profitable

Here it is folks, we are in the last quarter of the year.  For this year, we are looking at a Presidential election, possibly some important elections for you locally in your city or state and time to plan for your taxes if you haven’t been doing it now.

If you haven’t planned for your quarterly taxes and you owe money, get ready to write a check.  Unless you are unemployed and strapped for cash, it is better to pay what you owe now rather than to risk penalties and problems later on.  If you are uncertain, please check with your local tax professional.

Any donations for charity have to be taken care of in the remaining quarter of the year.  Make sure that you are aware of the changes in the law for charitable contributions.  If you need to get letters of appriasal big ticket items that you are donating, make sure the people that are preparing the estimates are experts in their fields.  If the receiving charity doesn’t use or resell your gift you may not get value for that contribution.  Make sure that you understand the new contribution laws very clearly.

Planning on having children and are married?  The kids will be deductions for the current year even if they are born on Dec 31 at 11:59 PM.  Congratulations.  Don’t go out of your way to get pregnant though just for the sake of having kids.  Make sure you and your spouse talk things over.

 

While you are it, take some time and talk about possible joint incomes if you are getting serious with your BBF or significant other and thinking about marriage.

If you are in business, take some time to see what needs pruning financially. We are in a slow business cycle and the chances are that things will get worse or stay flat before they get better.

If you are planning on buying things for investment purposes or selling them, maybe alleged collectible items, you may want to keep detailed records of your transactions. Remember too that cash is king in hard times.

Perhaps you may want to invest in a book on certain types of gambling? Part of the proceeds of all the book sales go to research Rett Syndrome (RTT). Rett Syndrome affects a girl born every fifteen minutes. Boys born with the Rett gene die at birth.

May your Autumn be a profitable one and not a Fall.

Kim Greenblatt

You are deep in Kim Greenblatt’s profitable blog learning about September Tax and Financial planning.

Tags: Business, finances, investments, Kim Greenblatt, profitable, taxes

This entry was posted on Monday, September 1st, 2008 at 12:17 am and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.