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their traditional Roth IRA, which is filled with pre-tax money into an after-tax Roth IRA, because those profits can be withdrawn tax-free.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.
How to Attract Business Capital – An Upstart’s Guide
How to Attract Business Capital – An Upstart’s Guide By Kenneth Jahzeal Aqwu Many aspiring entrepreneurs set out with grandiose ideas about what they hope to achieve with their newly-conceived business idea. But a few months down the road, especially as realities begin to set in, that initial fiery enthusiasm often begins to die down.…
How to Find Invoice Finance Options For Your Business
How to Find Invoice Finance Options For Your Business By Vince Samios If you own your own business or have to deal with invoicing clients, then you know how difficult it can be to get the pays on time. This doesn’t have to be a headache you go through every time you finish a job,…
New Venture Partners: Top Thirteen Things You Should Know
New Venture Partners: Top Thirteen Things You Should Know Updated: 6/16/10 Business Issue Establish due date for estimated capital calls Review personal liability insurance Review medical insurance issues Prepare personal cash flow forecast & balance sheet Carried interest: 4 – 6 years away (Don’t spend until in your pocket) Partnership buy-ins ARE negotiable *** Taxation…
Venture Capitalists Prefer Large Established Markets
Venture Capitalists Prefer Large Established Markets By Robert Ochtel 1/22/2009 Many entrepreneurs only focus on bleeding-edge, burgeoning markets when developing their technology, product or service offering. This is done for various reasons including: The perception that burgeoning markets have limited competition, The ability to establish an early foot-hold to increase the value of their company,…