Five Tax Items to Be Ready For This Year

Five Tax Items to Be Ready For This Year

Although the most recent tax season is over one can never truly put his or her tax-planning hat completely away for the year. With tax laws and regulations always in flux, you have to make sure that you’re prepared for the upcoming tax season. It will be here before you know it. Although there shouldn’t be any major surprises for 2014, there are some things to keep in mind in order to make sure you get the most out of your return. Let’s take a closer look.

One

It’s possible the federal government will wait longer than usual to renew any temporary tax provisions, which means it could take longer for you to plan.

Two

Don’t miss out on the simplified home office deduction if you are self-employed and run your business out of your home.

Three

Pay close attention to any ongoing IRS troubles or any new tax reform, which could have an effect on your taxes.

Four

Make sure you know the latest regulations for tax preparers, as the IRS appears to be ready to regulate them, a lot.

Five

Take full advantage of the benefits of inflation tax adjustments.

There are a lot of things you can do to prepare for the next tax year, including contacting the experienced tax professionals at GROCO. We can help you with all of your tax planning needs. Just come in and see us or give us a call at 1-877-CPA-2006.

We hope you found this article about “Five Tax Items to Be Ready For This Year?” helpful.  If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page  or our website at www.GROCO.com.  Unfortunately, we no longer give advice to other tax professionals gratis.

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Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com.  GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.

Alan L. Olsen, CPA, Wikipedia Bio

GROCO.com is a proud sponsor of The American Dreams Show.

The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.

Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.

They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..

MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness.  It’s mission statement:

In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.

Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.