Waiting for your regular appointment to discuss current tax-related issues can create problems or cause you to miss out on beneficial options that need to be timely exercised before year-end. Generally, you should call this office any time you have a substantial change in taxable income or deductions. By doing so, we can advise you about how to optimize your tax liability, avoid or minimize penalties, estimate and pre-pay required taxes, document deductions, and examine and explore tax options. You should call this office if you or your spouse:
- Waited until the last possible minute to start preparing your return
- Receive a large employee bonus or award
- Become unemployed
- Change employment
- Take an unplanned withdrawal from an IRA or other pension plan
- Retire or are contemplating retirement
- Exercise an employee stock option
- Have significant stock gains or losses
- Get married
- Separate from or divorce your spouse
- Sell or exchange a property or business
- Experience the death of a spouse during the year
- Turn 70½ during the year
- Increase your family size through birth or adoption of a child
- Start a business or acquire a rental property
- Receive a substantial lawsuit settlement or award
- Get lucky at a casino, lotto, or game show and receive a W-2G
- Plan to donate property worth $5,000 ($500 if a vehicle) or more to a charity
- Plan to gift more than $13,000 to any one individual during the year
In addition, you should call whenever you receive a notice from the government related to your tax return. You should never respond to a notice without first checking with us.
Don't wait until December 31st to call. By then, it is too late.
Kenneth Hoffman of K.R. Hoffman & Co., LLC is a highly sought after tax and business counselor. Counseling Entrepreneurs, Professionals and Select Individuals who are struggling with ever changing tax laws and who are paying too much in taxes. All the while he is protecting his clients from the IRS and other taxing authorities using proactive tax planning strategies, ensuring compliance with minimal tax liability while bringing his clients Peace of Mind.
Discover how I 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 between 8:30 a.m. to 1:00 p.m. for a no cost consultation, or drop me a note.
I truly value your business and I appreciate your referrals. Refer your family, friends, acquaintances, and business colleagues to KR Hoffman & Co., LLC.
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