Defer or Take the Tax Hit

Some people like to defer paying taxes until their good and ready but this column explains how pay tax now can save paying a higher tax rate down the track. Tax rates could increase in the future making you pay more than you want to so read some of the tips and inform yourself!

Knowing When to Take a Tax Hit
"Conventional wisdom holds that it's better to defer taxes as long as possible, but that's not always true. Sometimes you want to pay some taxes now, to avoid paying more later.
Doing that involves a careful calculus: Will your tax rates be higher in the future than they are now? Will paying now save you money later? What about the other uses you could put the money to now?"
Yahoo Finance

# Tax News