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Revision as of 13:33, 5 March 2025
It starts on the much smaller scale, perhaps with sweets off a counter, but can quickly escalate if not challenged. Some associated with those men (and women) I have worked alongside as Prison Chaplain began their life of crime by pinching sweets.
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Estimate your gross income. Monitor the tax write-offs that you may be able declare. Since many of them are based upon your income it is useful to prepare yourself. Be sure to review your revenue forecast for the past part of the year to decide if income could shift from tax rate to an extra. Plan ways to lower taxable income. For example, see if your employer is willing to issue your bonus in the first of the year instead of year-end or maybe if you are self-employed, consider billing client for work in January as opposed to December.
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Back in 2008 I received an unscheduled visit from an attractive teacher who had just adopted her tax assessment results. She had also chosen early retirement in November 2007. Yes, you guessed right. she'd taken the D-I-Y method to save money for her retirement.
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