Midyear tax planning is critical this year With big tax changes scheduled to take effect in this year, every business should make time for a midyear tax review. Here are five tax-cutting ideas to consider as part of your review. 1. Hire your kids. If your child is under age 18 and works for your unincorporated business, there are no social...
Tags: midyear tax planning
Category: Taxes
One benefit of midyear tax planning is that you have a solid foundation for making decisions and enough time to implement them. In addition, because the rules haven’t changed much this year, you can use last year’s tax return as a starting point for 2016 planning ideas. We encourage you to review your current tax situation. Contact us for effective...
Tags: midyear tax planning
Category: Taxes
With summer vacations and warm weather just around the corner, tax planning may not be a priority on your agenda. The problem is that if you wait until December, you cut the time for planning strategies to take effect. But if you take the time to plan now, you still have eight months for your actions to make a difference...
Tags: midyear tax planning
Category: Taxes
Tax planning is a year round activity! It’s midyear 2013, and if you haven’t thought about your 2013 tax situation yet, it’s time to do so. By now, you should have a good idea of what your 2013 income and deductions will be. There are several very significant tax changes this year, and you need to start planning now if...
Tags: midyear tax planningtax planning
Category: Taxes