#18 Itemize On Your Taxes
Plans fail for lack of counsel, but with many advisers they succeed. Proverbs 15:22.
I am not a tax professional and do not give tax advice. This is not tax advice. Seek the advice of a competent professional to see if you should be itemizing your expenses for tax purposes on an annual basis. Most folks don’t even attempt to do so. This will require you to track certain expenses and keep receipts. It’s totally worth it. We were able to save a great deal of money through lowering our taxable income by itemizing on our tax returns. The huge side benefit of this was that we knew what we were spending in some of these categories. When you pay attention to one area of your personal finances it pours over into other areas.
READ THIS: The Richest man in Babylon by George S. Clason
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