How can I minimize Personal Tax?
440989
If you are an employee, salary sacrifice your pay. Take some of your salary as a laptop, extra superannuation etc.\n\nIf you run a business, incorporate it, and make sure you have a Personal Services Business, in accordance with the Alienation of Personal Services Income legislation.\n\nCompanies only pay a tax rate of 30%, but if you provide personal services, you'll end up having that company income attributed to your personal tax.\n\nYou can also minimise personal tax by hiring a really expensive accountant. They come up with the most creative ideas.
49513
I highly recommend a tax professional.  Turbo Tax, Tax Act and Tax Cut do a good good at calculations and printing a pretty return, but that is about all it does.  A good tax professional will use every strategy to get you the largest refund or lower your tax liability while preparing a complete and accurate return.  Usually the cost is only $10-20 more and the larger refund pays this difference many times over.  Charles Lewis, Altus Accounting and Tax Services, 70 Water Street, Savannah, TN 38372 Ph 731-925-1070
88758
Your best bet is to make a payment plan with the irs. This way you can still go to your friends wedding, and won't get charge a pently for not filing.Make sure you change your W4 and get more taxes taking out.
136323
contact some good business in the same area.\ncompanies can also save for this kind of help on taxes, so hopefully you'll be able to get some company to help them.
1107676
Pay all your current bills. Save as much money as possible and the next time you get a lump sum of money like tax time..take the money you have saved and the taxes and pay them off at one time.
350892
Yep, tax form 1040X is for this purpose.\n\nhttp://www.wwwebtax.com/general/form_1040x.htm
53658
Go to any 'city hall' that corrosponds with your area\nthrough the info desk you should have one w/a small\nfee by the end of next week. Remember to name it as\na "bussiness" for all inclusive tax purposes. Write \noff the car, gas, car ins.\nAnother way would be to submerge yourself into the\nsurroundings of your interest...as with any\n"independant" endevore...please be careful, there is\nplenty of money to go around in this world. Yet, \nthere is only one of you.
820563
Don't worry, if you pay excess tax just visit your tax office- or try visiting www.gov.uk and find an online form. Just tell them you have been paying too much tax- the time limit is about 4 years so 5 months is not a problem.\n\nYou will be able to have your no tax and basic tax allowances recognised- once that happens your tax will be recalculated (spreading these allowances over the rest of the tax year) and will much lower for the rest of the year.
921246
Estimate $10,000 for taxes, first of all. (I think if you get it all at once, you're in something like a 50% tax bracket that year?)\n\n1. Get out of debt completely -- consolidation loan, student loans, car. (about 24,000)\n\n2. Buy a house and furnish it. \n\n3. Buy my mother a house. \n\n4. Go on a huge shopping spree and buy out Barnes and Nobel and Best Buy. \n\n5. Send $1,000,000 to my sister, who just had her 2nd baby and is going a bit nuts. \n\n6. Donate $1,000,000 each to the Road Home (homeless assistance), my favorite environmental charity, and my favorite religious charity. (Hey, $3,000,000 tax write-off, too.)\n\n7. Max out my 401k for this year (15,000)\n\n8. Start an IRA and max that out. ($4000, I think)\n\n9. Invest 25% of the rest in the stock market.\n\n10. Put $50,000 aside for an emergency fund. \n\n11. Put the rest into savings.
166329
consult a local tax advisor
470587
All about avoiding the tax.....mmmm....yeah..lol
41835
As you seem to already know, you can reduce or increase the withholding by filing a new W-4 form with your employer. \nhttp://www.irs.gov/pub/irs-pdf/fw4.pdf\n\nThat will only reduce your take home pay and wouldn't accomplish any more than saving a portion of your pay would acheive. What you really need  is to find some more deductions. Consider filing a 1040 rather than a short form and look for more deductions. Do you have school loans? Do you have tuition? Travel expenses or employee expenses? Charitable donations? State taxes? Self-employed? Make sure you are claiming all the deductions you are entitled to. \n\nDoes your employer have a plan that will allow you to deduct child care expenses BEFORE taxes?  These are called Flexible Spending Accounts. Any money that you put into it must be used during the year for qualified expenses, like child care. Otherwise you lose the money. BUT, the money is deducted before taxes so it lowers your total income and will probably save you some taxes over just itemizing the deduction.\n\nI've listed the IRS, and then the three best tax software packages, in my order of preference. The last link is an explanation of an FSA.
884689
http://www.irs.gov/taxtopics/tc557.html\n\nCheck out that link. Basically, it states that if you set it up as "made as part of a series of substantially equal periodic payments over your life or life expectancy, " you can avoid the 10% tax penalty.\n\nI would speak with your financial advisor/tax accountant to discuss ways to set it up this way.
208814
Go to Turbotax online. You can complete the rather lengthy and very thorough questionaire and do not need to pay a penny or even give them a credit card number until you are ready to file.
151492
Do your own taxes online and e-file save the 300. and get it back just as quick!  \nIf you were not refering to taxes it sounds like a scam!!!!
194346
The most efficient way as a private person would be to set up a business. Most expenses, even buying yourself a car or going on vacation could be declared as investments reducing the actual taxable income...
949736
I'm an accountant.  You can easily do your taxes yourself.  Now that you have a home you'll probably be itemizing your deductions.  You can now deduct your mortgage interest, property taxes, state income taxes, if any, and charitable contributions.  I use TaxAct.  It's really easy.  All you have to do is answer the questions and fill in the information.  And it's pretty inexpensive.  I think I paid $15 to file both Federal & State last year.  Don't use a professional.  They'll charge you a couple hundred dollars AND they'll use the same kind of software as TaxAct or TurboTax.  Good luck.