It is tax time again. That means it’s time to organize your 2008 receipts and strategize any last-minute tax savng tips. With many investors down this year, the good news is that you can apply up to $3,000 of any losses to offset your taxable income AND carry forward any losses in excess of $3,000 for future tax years. One note however-if your losses are from a 401k or IRA, you will not be able to claim the $3,000 loss on your tax return because the credit is only available to you if you ? sold investments.

Next … did you know that there is a new tax break for homeowners who do not itemize their taxes? For the first time, this year individuals can claim a property tax deduction of up to $1,000 on top of the standard deduction.

And if you are a homeowners who has unfortunately had the balance of their mortgage reduced because of foreclosure, you will not have to pay any tax on the difference. In the past, reductions were considered taxable income.

Last … it’s time to think about ways to manage your debt in 2009. Another tip is to begin using invoice factoring when and if clients get behind in payments so YOU will stay on top of your debts every month.

“To Get Started or To Find Out How Invoice Factoring Can Grow Your Business”