Some do it often, while others hold on all year for that one great week and live day by day until that magical start date on the calendar! A new wave in our digital age is to only take three or four day weekends, but do it more often. However you “vacation”, they do have one common thread, and that is that they are not free. Furthermore, when you are officially vacationing (which becomes a mindset as well….I am officially on vacation as of right now!) you spend more freely, often with a disregard for cost shopping. “I’m stopping at Starbucks for the Mocha Frappuccino, not Dunkin, cause I’m on vacation!”.
What if next vacation you could upgrade to fly first class, stay at the five star hotel on the best beach and make all your dinner plans with the restaurants on the Food Network, and it didn’t cost anything extra? How cool would that be? How about if it only cost you two hours of your time to “supersize” your vacation into the best one you have ever had? Well, that is all possible by adding one small new behavior, “tax planning” before the end of the year!
It is not uncommon to find a combination of missed deductions and proactive moves that are easy to make that can add up to thousands more in our pockets, instead of Uncle Sam’s! With all the money being spent around the pandemic and recovery and all of this president’s comments on funding sources, taxes will be going up. Get a plan together and pay less or the same, but not more, then use the savings toward your next vacation. We all could use one, let the IRS pay for some of yours!