Can you postpone receiving income, so that you won’t have to pay tax on it in 2022?<\/p>\n
It may make sense.<\/p>\n
Let’s discuss a potential opportunity for you to save on your current year’s tax bill.<\/p>\n
Let me throw a couple scenarios at you:<\/p>\n
1) You own your own business (assuming it is cash basis), and you wait until 2023 to collect money owed to you.<\/p>\n
2) You’re an employee, and your boss approaches you before the year-end to award you with a bonus. You wait until 2023 to receive the bonus (assuming your employer agrees).<\/p>\n
3) You want to sell a stock or investment for a gain at the end of 2022. You wait until 2023 to sell it (assuming the sale price will be about the same).<\/p>\n
All three of these options may have the potential to improve your 2022 tax bill.<\/p>\n","protected":false},"excerpt":{"rendered":"
Can you postpone receiving income, so that you won’t have to pay tax on it in 2022? It may make sense. Let’s discuss a potential opportunity for you to save on your current year’s tax bill. Let me throw a couple scenarios at you: 1) You own your own business (assuming it is cash basis), […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n