It’s hard to believe 2013 has almost reached it’s half-way point. We always advise our clients to take a hard look at their tax situation throughout the year to mitigate any unwelcome surprises at year-end. With all the recent changes to the tax laws, this especially holds true for 2013. As a reminder, here are a few of the new laws that could drastically affect your tax bill next April.
Check out Kiplinger Magazine’s article, “ Midyear Tax Moves to Save on Your 2013 Return ,” which discusses in detail some great ways to minimize the above mentioned tax hikes. Some suggestions are:
These are just a few items to take into consideration while planning for your 2013 tax bill. Of course there are no “one-size fits all” plans. Planning options and strategies may differ dramatically depending on factors such as the complexity of your investments and whether of not you are business owner or employee. Be sure to check out our prior article on The American Taxpayer Relief Act for more info, and for a review of your 2013 tax plan be sure to give us a call.