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There are several ways to work to reduce your taxes. The largest way to do so is by eliminating unused or underused assets or land. If you aren’t using it, don’t hold onto it! The next biggest way to do this is by remembering to update your equipment regularly. You will be presented the option once per 10 days to update your equipment hours. If you take the time to do this, it will update depreciation accordingly. The third way to offset taxes is to make larger contributions to your retirement fund, or to the virtual charity system.
Tax Schedule
Taxes come every month on the 2nd. They are then due by the 12th each month. If they are not paid by the 22nd, they begin to accrue late penalties. If taxes are ever more than 60 days past due, you may have assets seized to rectify your tax bill.