Holmquist & Associates
Tax Tips: Year-End

          

Disclosure:  The following tips won't work for everyone, you'll need to assess your personal tax situation.



Tax tips may help reduce your tax.  Be alert, tax saving ideas com from many sources.

  • Increase withholding and estimated tax payments to avoid penalty and interest charges

  • Purchase business equipment for the first year write-off

  • Defer bonuses and business income to next year

  • Make cash and non-cash charitable contributions
    • Charitable donations of appreciated stock can be deducted at fair market value

  • Prepare elections for pre-tax benefit payments at work:
    • Health insurance
    • Medical
    • Day care

  • Offset realized capital gains with realized capital losses
    • Capital gain tax rates have increased

                                   



 mike@holmquisttax.com                        sue@holmquisttax.com                        chris@holmquisttax.com

                                


                                952-476-7440                                   

Website Builder