Tuesday, August 07, 2007

Summer Tax Items

MOST taxpayers don’t think about their taxes until the start of the filing season in January. The other day I was asked by a rather astute business person if we could set up a meeting in January to give him some tax options for the current year? The time to evaluate tax stratgies is now, not next year. Steps such as getting the proper receipts from charities, adjusting your withholding or pursuing a tax strategy to increase your deductions are most effective if they are done well before year’s end.
Possible topics of personal interest are: how parents can get credit for sending their kids to day camp or reassessing your federal withholdings, charitable contributions, back-to-school advice, and the saver's credit amoung others.
There is also a vast array of possiblities available to the tax concerns of small business owners.