If you wait until April 15th to try and reduce your 2015 income tax, there will be very few things you can do.
Review your tax situation now, before December 31st, and take action to minimize your 2015 income tax.
There is some uncertainty in which tax provisions Congress may decide to extend, but the majority of tax law that will affect your income taxes is in place, as well as the strategies that may reduce your 2014 taxes if you act before the end of the year.
To assist our clients and friends with their tax planning, we have provided some discussion on the more common strategies. See the “2015 Tax Strategies & Planning” page on our web site to review the tax strategy discussion.
Please remember that the strategy and planning discussion is at a general level and not all your planning opportunities may be listed. That would be too long of a list. The purpose is to provide a tool to begin the process and discussion. You are unique and the strategies that would be most effective to you may change from year to year.
Let us help you! We have the knowledge and tools to help walk you through this process painlessly. Contact us if you would like us to develop a strategy that will best meet your specific situation.
Circular 230 Disclosure: This is to advise you that, unless expressly stated, nothing in this communication (including any attachment or other accompanying materials) was intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding any federal tax penalties, or for promoting, marketing, or recommending a partnership or other entity, investment plan or arrangement to anyone.