Financial Planner for young professionals, real estate investors, and entrepreneurs
Things to think about as we near year-end... AND things that I help my planning clients with: Should you do a Roth conversion? How does your withholding look compared to how much you're projected to owe? Will you be itemizing or taking the standard deduction? Should you consider bunching your charitable contributions? Should you consider gifting more money to your family? Are there gains or losses you should harvest in your portfolio? Do you need to fund a 529 before year-end to get the state tax deduction? Do you need to reimburse yourself for qualified education expenses from a 529 before year-end? Are there any business purchases you should pull into this tax year? Have you used up your FSA through work? While most of these include investment conversations, they ALL have to do with taxes. Make sure you work with someone who understands your tax situation and how to take advantage of the law.
Helping Service Business Owners Maximize Profit and Minimize Taxes | CPA Firm Owner
1moI wish more clients understand that this is really the time to take action, not after the year-end!