It is the time of year where we are beginning to think about year end tax planning. We look at this as an opportunity touch base with clients before the end of the year and evaluate what strategies they may wish to implement. This may involve timing of tax payments or charitable contributions, additional contributions to tax deferred retirement plans, purchasing new business assets, or buying/selling investments that may yield capital gains or losses. This planning process also allows us to work with clients whose tax position may have changed from the previous year. This could be because of new job, new business venture, a move, the birth of a child, etc. If you have questions about your taxes or what strategies you should consider before the end of the year, please contact an accountant at The CPA Group PC.
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