Is Your 2015 Tax Plan Ready?

How did your 2014 tax season go? Was it a success, or did it lack something to be desired? Did you get a nice return, or did you end up owing the IRS more than you expected? Did you make any mistakes when you filed your taxes or discover after the fact that you missed out on a credit or deduction you could have qualified for? Let’s face it, people aren’t perfect and taxes are complicated. Put those two things together and maybe your tax season could have been better.

Important Questions to Ponder

So now that your 2014 taxes are over and done with, maybe now is the time to consider some important changes for next year. In order to do this try asking yourself some of these important questions:

  • Do I have the right tax advisor? – Any CPA can file a tax return, but you need to be certain that your CPA understands the tax code inside and out and that he/she gets you the best results possible before and after your return.
  • Does my wealth manager understand tax loss harvesting? – While many wealth managers can help you plan for the present and the future, one key ingredient to success is to understand tax loss harvesting and how to use it.
  • Do I pay enough in fees? – No one wants to pay more than they have to, but if your hire an accountant on the cheap, you will probably get what you pay for. Paying a little extra to make sure your CPA digs deep enough to find every possible credit and deduction is worth the price.
  • Is my team right for me? – Some people have good accountants that also try to help manage their wealth, or vise versa. In most cases, it’s a good idea to have two separate advisors. However, it’s up to you to make sure you put together the right team for your success.

GROCO Can Help

All of these are important questions that you need to ask yourself. If you need help with any of these questions you can contact GROCO. Our team can help you with your investments, tax planning and wealth management. Just contact us online or give us a call at 1-877-CPA-2006 for more help.

/GROCO
Posted in

How to Avoid Tax Preparation Scams

With so much to do and so many other important things to worry about, many people will be looking for help over the coming weeks and months with their income tax returns. While some people might just choose the first name they see to file their taxes, whom you choose can actually make a big…

What Steps Lead to an Effective Estate Plan?

Do you have an estate plan? A lot of people don’t, for a lot of different reasons. Some people would rather not discuss their death under any circumstances, other people think they are too young to worry about an estate plan, while others just don’t know, or aren’t, sure where to begin. However, it’s a…

Will Your Tax Refund Be Delayed?

It’s only January, but because the calendar has turned to 2015, that means the tax season is officially here. While most people don’t file their taxes in January, there are a few early birds who go after the first worms of the year, so-to-speak. Although it’s often a good idea to make sure the IRS,…

Are You Looking To Invest for Growth?

What kind of investor are you? There are many types of investment strategies and each person will follow the strategy that best fits his or her plan. At GROCO, we can help all kinds of investors, including those who are investing for growth. When it comes to long-term growth, the total return on your investment…