Now that the end of the year is approaching, be sure to contact the office for a tax planning appointment if you’ve encounted aany significant changes in your tax lives like a sudden increase in wealth or maybe even a loss. With rate changes coming up next year, it’s good to determine if income should be claimed in this year or the next year.
Conversely, not all losses are fully deductable and it’s good to meet now to determine if any losses incurred are fully or only partially deductable. A lot of things can be done before the end of the year to help manage your tax burden, not a whole lot can be done after the end of the year!
Tags: tax planning
Written by: Doug Rodrigues