November 3, 2012
Time is Running Out - Act Now to Minimize What You Owe in 2013
Are you aware that you may be facing a sharp spike in taxes as of January 1, 2013? That could happen because of several factors, including the expiration of Bush Administration tax cuts and other pending tax law changes. The result could affect up to 90% of Americans and translate into an average tax hike of around $3,500 per household. Will you be affected? If you are, what can you do now to minimize the impact? Tax planning isn’t just for the wealthy. This is especially true this year with so many tax provisions up in the air. It’s always best to begin tax planning sooner rather than later, but it is not too late! Be sure to contact us for help in answering these questions and advice on all your tax and financial concerns.
This tax season is an important one for many business owners because it’s the first that will be impacted by the Tax Cuts and Jobs Act (TCJA). How big of an impact is dependent on your unique situation. We’ve compiled this short list of provisions that may affect the business community:
According to Forbes.com, Super Bowl viewers traditionally load up on millions of pounds of less-than-healthy foods during the big game—including ribs, pulled pork, tortilla chips, nuts, popcorn and bacon—all washed down with beer (the Super Bowl beverage of choice). If you are trying to stick to your New Year’s resolution to eat better, consider a few healthy substitutes for the traditional Super Bowl eats:
The combination of running a business and your life and preparing for tax time can drive some people into a slight panic. But no need to get stressed if you are prepared. Now is the time to start organizing all documents required to file your tax return.