If you wait until April 15th to try and reduce your 2013 income tax, there will be very few things you can do. Now, before December 31st, review your situation and take action to minimize your 2013 income tax.
Unlike the end of 2012, Congress isn’t still debating tax law changes. We know what the federal 2013 tax laws will be. There are a lot of changes in 2013, especially for higher income earners, and implementing tax planning strategies before the end of the year is important.
To assist our clients and friends with their tax planning, we have provided some discussion on the more common strategies. See the “2013 Tax Planning” tab on our web site to review the tax strategy discussion.
Please remember that the strategy 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.