Taxes are important, especially as you’re running your business. Paying attention to tax laws, and planning in a timely fashion for taxes, can seriously help you in the long run. For instance, you can estimate your tax liability and even look for ways to reduce it. That’s why we created our annual tax planning guide.
The guide highlights all sorts of information related to tax planning and tax law. Topics include:
- Executive compensation
- Real Estate
- Business Ownership
- Charitable Giving
- Family & Education
- Estate Planning
- Tax Rates
To learn more, or download the guide, click here.
Change could be coming …
There’s a large possibility that tax laws could be seriously changing, thanks to a change in White House administration and Republicans maintaining a majority of Congress. But for now, following current tax laws is the way to go.
However, it’s important to know that change could come quickly and you need to be ready to respond. We encourage you to have a tax adviser who can help you navigate these changes if they happen.
It’s hard to believe, but 2015 is quickly coming to a close. In the midst of holiday busyness, family time and hoping for no significant weather changes, it’s important to take the opportunity to do some year-end planning, especially regarding your taxes.
“But it’s not even close to April 15! I don’t want to think about my taxes,” you say. While it might not be your favorite thing on the to do list, here are a few reasons why it’s important to look at tax planning early:
Plan ahead and (possibly) save later. By doing year end planning, you can review steps you might take to minimize your tax liability.
Keep up to date. Tax legislation is constantly changing. By keeping up to date on legislation, you can incorporate current and future tax law changes into your current tax planning.
Start now and keep planning. Year-end planning is always important. However, the best opportunities to save or defer taxes come when you understand the effect of transactions that can happen over multiple years. Couple this with your knowledge of current and future tax changes and you will be well on your way to tax planning.
You don’t have to know it all. Check out our 2015 Tax Planning Guide, which discusses current tax law and steps you can take to minimize your taxes. Download the guide.
Want to know more? Feel free to reach out any time. Taxes might not be your favorite thing, but guess what, it’s one of ours.