Are You Missing Valuable Year-End Tax Breaks?

by Kenneth Hoffman in , , ,

December 31 is approaching fast. And while you may not associate December 31 with taxes, it’s the deadline to take advantage of some of the most valuable planning opportunities. And proactive tax planning is the key to minimizing your tax.
Here’s a quick quiz to help see if you need year-end planning. This year, did you or will you:

  •   Marry or divorce
  •   Have a baby (or adopt)
  •   Change jobs or retire
  •   Earn income from stock options or employer stock
  •   Buy or sell your home
  •   Make gifts of more than $13,000 to any one person
  •   Start or invest in a new business
  •   Close or sell a business
  •   Hire contractors or employees for your business
  •   Start using your home for business
  •   Start using your car for business (other than driving to or from work)
  •   Increase or decrease your business income
  •   Buy or lease a new car/truck for business
  •   Buy or lease business equipment
  •   Sell business assets
  •   Start receiving IRA or retirement plan distributions
  •   Reach age 70½
  •   Buy or sell stocks, bonds, or mutual funds
  •   Buy, sell, or exchange investment real estate

Did you answer “yes” to any of the questions? If so, you can probably profit from year-end tax planning. Call us at 954.591.8290 for a free analysis. We’ll find the mistakes and missed opportunities that may be costing you thousands, and show you how we can fix them.
K.R. Hoffman & Co., LLC, counsels Entrepreneurs, Professionals and Select Individuals in taking control of their taxes, and businesses. Discover how we can help you overcome your tax and business challenges. To start the conversation or to become a client, call Kenneth Hoffman at (954) 591-8290 Monday - Friday from 8:30 a.m. to 1:00 p.m. for a no cost consultation, or drop me a note.

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