He talks with Marketplace Morning Report Host Cheryl Glaser each Thursday morning. Make charitable contributions, take large medical expenses, buy office equipment or other things for your business, pay dues or subscriptions to professional organizations, prepay state and local income and property taxes, and move by the end of the year to deduct moving expenses. Postpone income into 2000 . If you have any choice in the matter, get paid for things in 2000.
Salespeople can get their commissons paid next year.
Ask for your bonus to arrive in 2000. If you have any say in when you get paid for something, postponing it means you pay the tax next year instead of for 1999. Get married in 2000 . Because of the marriage penalty, you pay more in taxes if you are married instead of if you are single. Have a child in 1999 .