Plan now to save on taxes later

Even though tax filing time is far away, the fall is the perfect time to start your planning so you can take advantage of all opportunities to minimize your tax bill. That begins with ensuring you’ve taken all the deductions that can help reduce your taxable income.

Have you –

  • maxed out retirement plan contributions, for example?
  • Set aside money for 529 college savings plans or health savings accounts?
  • Considered which charitable donations you want to make before year’s end?

Those are just a few of options that might help cut your taxes.

At the same time, since tax rates for high-income taxpayers have risen in recent years, it’s also smart to investigate ways to lower the income you report this year and to avoid generating passive income.

With only a few months left in the year, now is the time to seek advice on steps you can take now that will pay off on April 15.

Advertisements

About HDA Consulting, LLC

HDA Consulting LLC provides a variety of accounting services including; forensic & litigation consulting, fraud & embezzlement investigation, payroll & tax. http://hdaconsultingllc.net. Try TSheets https://www.tsheets.com/#a:hdaconsulting
This entry was posted in Tax, Tax Planning, tax tips and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s