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their traditional Roth IRA, which is filled with pre-tax money into an after-tax Roth IRA, because those profits can be withdrawn tax-free.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.
Preserving My Family’s Life’s Work & Legacy
Tom Chatham, Chairman of Chatham Created Gems & Diamonds, Inc., discusses preserving his family’s legacy and life’s work on Alan Olsen‘s American Dreams Show. Transcript: Alan Olsen Welcome to America dreams. My guest today is Tom Chatham. Welcome to today’s show. Tom Chatham Thank you glad to be here. Alan Olsen So, Tom, we’ve had…
Mastering Business Growth with Howard Shore
Howard Shore, Founder and CEO of Activate Group Inc. discusses managing, even mastering, business growth and the challenges growing quickly can present on Alan Olsen‘s American Dreams Show. Transcript: Alan Olsen Welcome to American Dreams. My guest today is Howard Shore. Howard, welcome to today’s show. Howard Shore Alan, thank you for having me. Alan…
Prosperity and Self-Reliance Zealot Steve Alder
From North America to Ghana, Africa, Steve Alder, President of Ensign Global College (www.ensign.edu.gh), sits down to discuss how a professor helps to build global prosperity and self-reliance on Alan Olsen‘s American Dreams Show. Transcript: Alan Olsen Welcome to American Dreams I’m visiting here today with Steve Alder. Steve, welcome to today’s program. Steve Alder Thank…
Steve Young on Building an Epic Family Legacy
Retired 49r Steve Young Discusses Building a Family Legacy at the Legacy Builders Event on May 15, 2024 As GROCO celebrates three decades of excellence in family office tax and advisory services, we have developed the Legacy Builders to stands as a testament to the firm’s enduring vision: to transform wealth into a powerful tool…