This edition of Tax Tips and Facts contains suggestions to save you tax dollars on this year's tax return. Some suggestions may bring you cash this year, some will carry into your refund or lower tax liability due by April 15. Year-end tax planning activities often result in substantial tax savings. This is the time to look over your tax records and plan the end of your tax year.
Many accountants view their goal as minimizing their clients' taxes.
I like to see my clients pay more taxes - because their earnings and profits are increasing dramatically. I can make a major difference in achieving those profits. Talk to me and find out more. If you think next year's taxable income will put you into a lower tax bracket, do the opposite by delaying 1996 income into next year and pay all deductible items in 1996. If you are collecting Social Security benefits and your modified adjusted gross income puts you into a just higher bracket for taxation of those benefits, think about delaying receipt of included income into 1997.