Happy Tuesday everyone! I know I ran an infographic last week and I normally only like to post one a month, but I when I saw this one I just had to share it. That, and last week was crazy busy so I did not get a chance to write as much as I would have liked to. Next week is the tax filing deadline and unless you plan on filing for an extension then the time is a comin.’ As tax season is coming to a close I know that many are looking for last minute tax deductions they can take. Some are easy to find while others force you to be a little more creative. Being business owners, we’re always looking for tax deductions to take to improve our tax picture which is why this infographic stood out to me. Please note that I am not a tax advisor and that if you do have any questions on your tax deductions, please consult a tax professional.
Taxes have a way of leveling people and bringing people like celebrities down to the status of ordinary folk. Apparently not all celebrities live the lifestyle of the rich and famous. Part of the reason at least some of them get to being rich is they have taken frugality and turned into an art form. I mean, what doesn’t scream tax deduction like sending out postcards to remind every American who you are, or writing off the cost to develop your very own ringtone. Speaking of ringtones, what would a Frugal Rules ringtone sound like? I imagine it would be to the tune of Pink Floyd’s “Money” of course! Oh, and if you’re looking for one last minute tax deduction to avoid, don’t follow Oprah in this case who wrote off her $3,000 chair because it was “more flattering;” it might raise a few red flags at the IRS.