Okay, here we go. I’m writing this from my kitchen table in suburban Ohio, 9:47 p.m., there’s a half-drunk White Claw sweating on a 1040, and my dog just farted so bad I had to open the window in December. Real glamorous. Anyway, tax planning tips are the only reason I’m not currently eating store-brand cereal for dinner every night, so buckle up.
Why I’m Weirdly Obsessed with Tax Planning Tips Right Now
Last April I was sitting in my car outside the post office at 11:58 p.m. on April 15th, ugly-crying because I owed $4,800 I definitely didn’t have. Fast-forward to this year? I got a refund big enough to buy the stupid espresso machine I’m currently abusing. Same income, same messy freelance life. The difference? I finally listened to some tax planning tips instead of pretending the IRS was just “a suggestion.”
Tax Planning Tip #1: Max Out That Solo 401(k) Like Your Life Depends On It
I ignored this for years because “401(k)” sounded like something adults in Patagonia vests do. Turns out when you’re self-employed you can shove up to $69,000 (2024 limit, check IRS.gov because I’m not your accountant) into a Solo 401(k) and it’s basically gone from your taxable income. I put in $23,000 last year while eating instant ramen and somehow still survived. My taxable income dropped like 30%. I almost framed the TurboTax summary screen.
Tax Planning Tip #2: Home Office Deduction – Yes, Even If It’s Your Dining Table
I used to think you needed a fancy spare room with a neon “BOSS BABE” sign. Nope. If your “office” is the corner of your kitchen table where you push the mail aside to work, you can still take it. I measured the square footage with a Chipotle receipt and a ruler because I’m fancy like that. Saved me another $1,200. The IRS has a simplified method now ($5 per square foot, up to 300 sq ft) so you don’t have to save every stupid utility bill.
Tax Planning Tip #3: Bunch Your Medical Expenses Like a Hoarder
2023 me paid medical bills whenever, spread out like a responsible adult. 2024 me waited and paid a giant therapy bill, a root canal, and new glasses all in the same year so I could actually cross the 7.5% AGI threshold. Felt psychotic scheduling dental work around tax strategy but hey, $2,100 back in my pocket.
Tax Planning Tip #4: Charitable Donations But Make It Sneaky
I donate clothes anyway because my closet is a cry for help. Now I take photos, use ItsDeductible.com to value everything, and boom – another $800 off. Pro tip: donor-advised funds are next-level if you’ve got stock you’re sitting on. I don’t… yet… but when I do I’m yeeting appreciated shares straight into charity and dodging capital gains like a ninja.
Tax Planning Tip #5: Quarterly Estimates Aren’t Optional, Stop Being Me in 2022
I got hit with a $900 underpayment penalty because I “forgot” to pay quarterly taxes. Now I have a calendar reminder called “PAY THE GOVERNMENT YOU BROKE IDIOT” that screams at me every quarter. Set it and forget it. Future you will not be sobbing in a post office parking lot.
Anyway, That’s My Messy Truth on Tax Planning Tips
Look, I’m still a disaster who loses receipts in the couch and once tried to deduct a Netflix subscription because “research.” But these tax planning tips turned a five-figure tax bill into a four-figure refund and I will scream this from the rooftops of my very average Midwest house.
If even one of you avoids the post-office meltdown, my work here is done. Go open a Solo 401(k), measure your dumb kitchen table, and text your accountant the burrito emoji – they’ll know what it means.
Now if you’ll excuse me, my White Claw is warm and my dog is judging me. Drop your own chaotic tax stories below, I need to feel less alone.
