Start Your Tax Planning Early This Year with Ginsberg’s Advice

April 15^th has come and gone. Many of us are still wiping the sweat off of our brows from all the frantic activities of saving some tax and filing our returns. And many of us have made a new new-year resolution—one that we make every year around this time—to never leave our tax planning and filing for the last minute. If only we could hold ourselves to that one.

But, for those who are more determined than last year to take this latest resolution more seriously, here are some tips on better tax planning for the next year from Adam Ginsberg, one of the leading coaches on wealth building and management.

Tax Tip #1

Itemized Tax Deductions Vs Standard Tax Deductions

The 2009 IRS data shows that 45 million Americans claimed more than $1 trillion in tax deductions by itemizing them compared to the 92 million tax payers who only claimed $700 million by way of standardized deductions. Going by these statistics, it does not take a math genius to figure out that itemized deductions are better for your financial health. This should be incentive enough to get you started on next year’s tax planning early. Adam Ginsberg suggests that you consult a tax accountant as soon as you can and understand the various heads that you can itemize your deductions under. Next, you keep track of any expenses that you incur under these heads and bring them to your accountant before you file your returns next year. Be sure to pat yourself on the back when you compare your tax savings on itemized deductions with your standard deductions that you claimed this year.

Tip #2

Make Money on Your Tax Money

If you are already saving some dollars on your taxes by filing for itemized deductions, you could make some more money still by Adam Ginsberg suggests that you bring out your calculator and figure out how much tax will you owe Uncle Sam next year by taking your current tax payout and adding what you estimate will your tax grow by in the coming year (forecast your income growth etc.). Now divide that figure by 12 and what you get is your monthly tax liability. Now, instead of foraging into your savings, taking a loan, or using your credit card to pay the tax collector together at the end of the year, you could put aside the monthly installment of your estimated tax liability into a short-term deposit or look for other interest-earning venues where your tax money would not only be safe, but will also earn interest for you the entire year. So, not only do you earn interest on your tax money, but also save interest on a possible loan or credit card payment of your tax.

planning your taxes in advance.

While these two tips should be motivation enough to make an appointment with your tax accountant today, we would love to hear your thoughts on why we should start our tax planning early this year. Leave a feedback comment or drop us a line.

Adam Ginsberg wants to help you to save money by educating you on taxes, which would help you have a financially sound 2013.  Read more of Adam Ginsberg Resources for other tips.

Save Money on a Low Income - Adam Ginsberg

Saving money in this day and age is very important to make your future safe and secure and help you in emergencies. The Adam Ginsberg team would like to share an article written by Sheri Cyprus on how to save on a low income published by wiseGEEK.com.

A penny saved is a penny earned.

Saving money on a low income may be more difficult than putting aside savings when you’re earning at least an average income, it’s still an important thing to do. You can save money if you just commit to setting aside a small, but set amount, from each pay check.

•  First decide what your savings will be used for. You can save toward a particular item you want or need, but you should also have emergency savings in mind. You may need to have separate goals that you save for. Remember that, when you save money on a low income, you are doing it not to deprive yourself further, but to empower yourself in the long run.

Even a small amount of savings is better than none.

• Second Find an area where you can trim some money and put it into savings. If you think about how much money you can have long term if you forgo some things (like eating out) in the short term, it can help you keep your commitment to save.     

Try Think of having a budget and sticking to it as a way of making the best use of your small income for your future goals. Having a budget that includes how much you need to save each paycheck can keep you on track. Just be realistic with the amounts. Give yourself some treats, but don’t live beyond your means.

When you save money on a low income, even a few dollars a week, you’re managing the money you do have for your own benefit.

In his extensive experience, first as an eBay entrepreneur and then as a trainer and mentor, Adam Ginsberg believes that anybody can make money on the internet, no matter what the economic conditions are. In his many interactions with thousands of people during his seminars, Adam himself acknowledges the fact that more and more people are leaning toward generating income streams from the internet through various e-commerce sites like eBay, Amazon, Overstock, Craigslist and Google.
Adam Ginsberg, through his programs on internet entrepreneurship, is now helping thousands of people who are keen to make fortunes for themselves online. However, Adam believes and professes that keenness and planning alone won’t help people achieve their goals of becoming internet millionaires; being proactive and seizing opportunities will.

So, if you want to take control of your finances and to secure your future, you need to do it now. Whatever the economic conditions may be, we can help you to start and grow your online business, both domestically and internationally. Backed by Adam Ginsberg’s successful strategies and his experience, you could achieve tremendous success, and that too with no or very little investment.
To know more about eBay business resources and tools, read Adam Ginsberg’s blog. If you’ve heard about the alleged Adam Ginsberg Complaints or Adam Ginsberg Fraud, please contact us so that we can give you the whole story.