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their traditional Roth IRA, which is filled with pre-tax money into an after-tax Roth IRA, because those profits can be withdrawn tax-free.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.
Is Artwork a Good Investment?
Is Artwork a Good Investment? If you collect rare and expensive art then chances are your collection is one of your most prized possessions. There are all kinds of art collectors, including those who collect for a hobby, those who use their collection as a business and others who collect art as an investment. Therefore,…
What Does the Future Hold for the Venture Capital Industry?
What Does the Future Hold for the Venture Capital Industry? Like any business industry the venture capital industry is subject to ebbs and flows, which means changes are bound to occur. Trends come and trends go and those who are able to identify the newest and latest trends the earliest tend to be the most…
Building a High Trust Organization Requires Respect
Building a High Trust Organization Requires Respect One of the most important aspects in the success of any organization is trust. Employers have to be able to trust their employees, and at the same time, employees need to trust their employers. Additionally, clients must be able to trust their suppliers. Without trust it is very…
How to Choose Whom to Lend to?
How to Choose Whom to Lend to? The world runs on money, and those who have the money typically control how things are run. That’s a very broad and general statement, and of course, there are many variables but for the most part, when money talks people listen. Thus, the role of venture capitalists, banks…