Like it or Not, Now Is the Time to Think About Taxes
There are still several days before we officially celebrate Christmas, which means people still have plenty to do, including finding those important last-minute gifts. However, if you are done with your shopping, maybe you can put Christmas aside for a moment and focus on taxes. Taxes are probably the last thing you want to think about right now, but if you wait too long the chance to save some money could melt away as fast as spring snow.
Even though you don’t have to turn your taxes in until April, the choices you make now can make a huge difference. With so many tax considerations still up in the air, along with the Affordable Care Act (ACA), there are lots of things to think about, and plan for.
For starters, you can get a better idea of how the ACA will affect you by using the Tax Policy Center ACA Calculator found here. This will give you a better idea of how the ACA and all its intricacies will affect your 2014 tax return. Another possible trouble spot for taxpayers is the continued uncertainty in Washington regarding several tax breaks that expired at the end of last year. Stay tuned.
Of course, there are some measures you can take no matter what lawmakers decide to do. For example, when you have stocks that do well it can help to sell other less-successful stocks. Doing so can help offset your capital gains. Another way to save is to contribute as much as possible to you retirement account. Using up flexible spending accounts before the year is over is also usually a smart move, as is making charitable donations. All of these steps can make for a happier tax return.
If you would like other tax saving tips to help you plan for your return, then contact us online today at GROCO, or call us at 1-877-CPA-2006.
How to Make Your Retirement Savings last Longer
How to Make Your Retirement Savings last Longer How’s your retirement nest egg looking these days? Whatever your situation: already living off your retirement savings, still a few years away, or you’re just getting started on that nest egg, planning and saving for retirement is very important. But once you have that nest egg saved…
Want to Keep Your Passport – Pay Your Tax Debt
Want to Keep Your Passport – Pay Your Tax Debt. Are you planning an exciting vacation abroad any time soon, or an important overseas business trip? Before you leave the country, you better make sure you don’t owe any back taxes. The IRS recently reminded taxpayers that if they have a tax debt of greater…
Trust Your Tax Return to the Professionals
A question millions of US citizens annually ask themselves prior to April 15th. Should you DIY or trust your tax return to the professionals? Every year many thousands of modest, honest and hardworking US citizens discover they owe the IRS still more money upon completion of their tax returns. It’s a lousy feeling. Now imagine,…
Dawn LeBlanc – Managing Director at Hartford InsurTech Hub
Dawn is the Managing Director at Hartford InsurTech Hub. She has Diversified expertise across insurance/financial products, innovation, marketing, regulatory, actuarial, operations, distribution and technology. Prior to joining Hartford InsurTech Hub she was the Vice President Business Solutions at Prudential Financial. Dawn attended Central Connecticut State UniversityWhere she received her Bachelor’s in Science in Mathematics/Actuarial