Tip - save on taxes by pre-ordering / prepaying expenses now

[raymor]

Originally Posted by RawAlex

This would be more true is you expect to make less money next year, otherwise you are trading reduced taxes today for increased taxes next year (because you shifted out expenses from one year to the other).

This would be doubly bad if you expect income to increase next year, as whatever you save this year might be lost even more over next year if you move up a grade in taxes.

If you expect to be in a higher tax bracket next year, it could cost you a little more next year,
though even in that case it's like paying a bit of interest on a loan - it could make good sense.
If you plan to incorporate next year, or buy a house, have a baby, etc., so that your tax situation
is better next year than it's a doubly good idea to take what expenses you can now.