With 2013 beginning to draw to a close, now is the time to begin personal tax planning for the year. It’s always a wise decision to get started with the process sooner rather than later, to help capitalize on all opportunities, make the right adjustments, and start the next year off on the right foot as well. Now, Margida & Associates, a leading accountant in Stow, Ohio, is helping individuals and businesses do just that, with a special free year-end tax-planning guide.
This 2013 year-end tax-planning guide is available to absolutely anybody, at no charge, and with no strings attached. It’s free to use, and it can help anyone with his or her personal tax planning for the year.
Here’s an overview of the 2013 year-end tax planning guide and what it offers.
Step-by-step personal tax planning advice, including:
- Determining filing status and exemptions, and the correct options.
- Learning new tax brackets, tax rates, adjustments and surcharges, and their impact.
- Keeping track of all sources of income, all expenses, and potential deductions that can be utilized, as well as Alternative Minimum Tax exposure.
Smart investing advice, such as:
- Using the correct tax-advantaged investment and savings accounts, understanding differences between 401(k)’s, Roth IRAs, SIMPLE IRAs, SEP-IRAs, HSA accounts, and other options, and learning about maximum contributions and deductions where applicable.
- Planning for gains and losses, reducing tax hits for long-term gains versus short-germ gains, offsetting gains with losses, and minimizing the 3.8% surcharge if applicable.
Small business year-end tax planning advice:
- Reviewing earnings and taxes based upon business structure; tax accounting methods, operating losses and more.
- Deduct the cost of asset purchases including 2013 first-year depreciation deduction break, and other deductions from deductible expenses to retirement plan contributions, and reducing self-employment taxes where applicable.
- Explore and take advantage of tax credits for businesses, which have been extended.
Of course, navigating the tax season can seem like a daunting process. All of this advice and information may be enough to suffice, but in many cases, hiring a professional to not only help file the taxes themselves, but to create a smart plan of action throughout the year, is a wise decision which will pay for itself.
Individuals looking for an accountant in or nearby Stow, Ohio, can trust in the experience and dedication of Margida & Associates. They offer personal tax planning, business consulting, and small business accounting as well. Visit them online at Margida-Assoc.com to learn more about how they can help any individual or business with their year-end tax planning and filing.