It's that time of year again - time to
start thinking about taxes.It's time to start planning for Tax Day.
This is never a fun time but thought this article was helpful to
get started.
Year End Tax Tips
Tax Moves to Lower Your Tax Bill
By William Perez, About.com Guide
There are three basic year-end tax planning techniques that can be
utilized to successfully manage income taxes: deferring income to
the following year, accelerating deductions into the current year,
and taking advantage of any expiring tax provisions. Examples of
these types of tactics are holding off on selling investments with
gains until later or paying tax deductions this year such as
property tax or charity donations.
Taxpayers should also plan ahead for long-awaited tax changes that
may occur in 2013. Under current tax law, all the tax rates will change for
2013. There's been various proposals to keep the tax rates the same
or increase only the top two tax brackets.... [Read full article]