Weekly Tax Tip #107
Year-End Tax Tips. This month, we’ll revisit some of our best year-end tax planning tips. One of the most rewarding parts of our practice is helping clients develop a plan to reduce their income taxes. Planning needs to be done before the year is up using accurate records on the business earnings. The timing and structure of business sales, asset purchases, bonuses and pension plans are some of the more common topics covered in a planning session, with the potential to save many thousands – even millions - of dollars. Something as simple as delaying the expensing of equipment from a start-up year to a later year can save over 20% in tax. Need more information? Give me a call at 931-648-4786.
Thomas M. Henry | 12/06/2013