Tax Planning Tips

7 Common Mistakes
  1. Waiting until it is too late in the year to assess your tax obligation
  2. Not taking full advantage of tax-free and tax deferred programs
  3. Not knowing how much to have witheld for State and Federal icome tax
  4. Overlooking charitable donations
  5. Not keeping records of deductible expenses
  6. Not reviewing or adjusting your W-4 withholdings after a life change
  7. Not taking advantage of tax credits and all allowable deductions
Tax Planning Checklist
Here are some events that should trigger a review of you tax situation.
  • You borrow money or refinance
  • You decide to pay off a loan
  • You are getting married or divorced
  • You are considering starting, buying, or selling a buisness
  • You are considering a move
  • You are the beneficiary of an estate
  • You are incurring business expenses as an employee
  • Education expenses
  • You are buying or selling any kind of property
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