Like it or Not, Now Is the Time to Think About Taxes
There are still several days before we officially celebrate Christmas, which means people still have plenty to do, including finding those important last-minute gifts. However, if you are done with your shopping, maybe you can put Christmas aside for a moment and focus on taxes. Taxes are probably the last thing you want to think about right now, but if you wait too long the chance to save some money could melt away as fast as spring snow.
Even though you don’t have to turn your taxes in until April, the choices you make now can make a huge difference. With so many tax considerations still up in the air, along with the Affordable Care Act (ACA), there are lots of things to think about, and plan for.
For starters, you can get a better idea of how the ACA will affect you by using the Tax Policy Center ACA Calculator found here. This will give you a better idea of how the ACA and all its intricacies will affect your 2014 tax return. Another possible trouble spot for taxpayers is the continued uncertainty in Washington regarding several tax breaks that expired at the end of last year. Stay tuned.
Of course, there are some measures you can take no matter what lawmakers decide to do. For example, when you have stocks that do well it can help to sell other less-successful stocks. Doing so can help offset your capital gains. Another way to save is to contribute as much as possible to you retirement account. Using up flexible spending accounts before the year is over is also usually a smart move, as is making charitable donations. All of these steps can make for a happier tax return.
If you would like other tax saving tips to help you plan for your return, then contact us online today at GROCO, or call us at 1-877-CPA-2006.
5 Rules of Building Successful Connections
5 Rules of Building Successful Connections Author: Will Corrente Updated: 6/10/2013 For me, connecting with people and connecting with entrepreneurs is one of the most enjoyable aspects of business and entrepreneurship. As a “Connection Optimizer”, I love brainstorming, making introductions, and pointing out potential synergies between friends, colleagues and fellow entrepreneurs. Like all social…
How To Become Employed With 9.8% Unemployment
How To Become Employed With 9.8% Unemployment 9.8% unemployment is the national average. For many states, it is even higher than 9.8%. I live in California and the number has hit double digits. This is true for many other states as well. Regardless of the rate, anyone actively in a job search knows these are…
Salaries of American Cities To Be Considered Wealthy
What are the salaries required within most American cities to be considered wealthy? We spend a lot of time on this website discussing the nation’s wealthiest individuals. Of course, most people in the United States know who the nation’s top earners are. Names like Warren Buffet, Bill Gates, Paul Allen, and Mark Zuckerberg are very…
The Top 10 Inventions in 2016
The Top 10 Inventions in 2016 Wireless Headphones $159 Wireless headphones have been around for years, but Apple’s new Airpods offer some unique features that make them stand out. You can listen to music, but they also come with microphones so you can control your phone with your voice and they can even detect when…