It’s that time of the year — tax planning time
For business owners this is also the time for year-end tax planning
Start by reviewing your 2022 paperwork (Jan to Oct).
Income and expenses.
Then estimate revenue and deductions for Nov and Dec.
Look at your 2021 tax return
Next try to anticipate 2023 projected revenue and expenses
Armed with this information, you can develop a strategy on how
to save on your 2022 taxes.
Example: if you expect an increase in your 2023 income then
you need to postpone some of deductible expenses until next year.
This way the deductions claimed in 2023 will provide you with
with greater tax savings
Yes, you can
You’re right if you guessed Colorado
If you live in Colorado, you can pay your taxes using cryptocurrency.
Bitcoin, bitcoin cash, ethereum, and others, will be accepted as tax payments
You submit your payments through PayPal’s Cryptocurrencies Hub.
Three to five days later the cryptocurrency will be converted to U.S. dollars
It’s that easy
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