Four Things to Consider Now for the Upcoming Tax Season

It’s November already. How can that be possible? The more important question is what are you going to do about it? Although it seems like the last tax season just ended a few months ago, the next tax season is just a few weeks away. That means you should already be preparing for your inevitable tax return. So what can you do to start getting ready?
There are many different things to start thinking about if you’re looking to get started on tax preparation right now. One of those things is to consider a Roth IRA. It might be a good idea for some taxpayers to convert their traditional Roth IRA, which is filled with pre-tax money into an after-tax Roth IRA, because those profits can be withdrawn tax-free.
Another thing that could come into play a lot this year is how taxes will affect those in same-sex marriages. Anyone who has filed previous tax returns as a single because their relationship was not recognized in their state can now go back and file amended returns. If you fall into this category then start looking into those past returns now.
Last, but not least, another important item to consider is penalties from Obamacare. For those who did not have health insurance this year the fine has gone up considerably from last year. While it is too late to sign up for insurance for the last 10 months, you can file for a hardship exemption.
The bottom line is it’s time to get ready for taxes. Contact GROCO now for more help with your taxes for the upcoming season. We will get you ready. Click here or call 1-877-CPA-2006.
Millionaire Financial Calculator
Millionaire Financial Calculator What might it take to save one million dollars? This financial calculator helps you find out. Enter in your current savings plan and view graphically your financial results for each year until you retire! A complete report tells you when you could hit your Cool Million – and what you can do…
Why Are California Lawmakers Battling Over How to Spend Free Money?
Why Are California Lawmakers Battling Over How to Spend Free Money? When it comes to money, free is a very nice price. Who doesn’t like a free handout? Ask around and almost anyone would say they love to get something for nothing, which is why people spends millions in gambling and other games of chance.…
Top Reasons Why People Procrastinate
Top Reasons Why People Procrastinate When it comes to money, free is a very nice price. Who doesn’t like a free handout? Ask around and almost anyone would say they love to get something for nothing, which is why people spends millions in gambling and other games of chance. In fact, that famous, crazy strip…
What is Your Investment Risk Tolerance?
What is Your Investment Risk Tolerance? Mention the word “risk” in the context of a discussion about investing, and what springs to most people’s minds? A huge loss when the stock market takes a dive? Or when the price of bonds tumbles? Most likely. Such possibilities lead some people to cling to the “safety” of…