Tax Filing Season Is Just Around the Corner!

Believe it or not, it’s time to start getting your thoughts and documents organized for the 2016 tax season. Here are some ideas from DKC Tax Manager Sarah Ta.

Tip One: To reduce the pressure of compiling tax documents close to the tax filing deadline, start gathering your personal and business information now.

Tip Two: As this is the time of year when significant tax savings can be achieved, please give us a call to discuss your specific situation and develop a tax savings strategy that is right for you!

Tip Three: Remember, it is important to pay deductible personal and business expenses before year-end.  Call us to discuss in more detail.

Tip Four: Have you reviewed your retirement contributions this year to ensure that you have maximized your benefits and tax deductions?

Tip Five: Your investment portfolio may contain several opportunities to reduce income taxes if transactions are completed before the end of the year.  Now is a good time to check with your investment advisor and coordinate with us to see what opportunities are available.

Tip Six: Charitable donations are one of many tax planning opportunities available before December 31st.  These may be made via cash, credit card, non-cash items, or appreciated stock.  Please contact us to discuss the associated benefits.

Getting a head start on year-end tax planning adds an extra benefit of reducing holiday stress!