Now that November is here, it is time to think about some year end tax saving strategies. Here is an article with some simple ones that can save you taxes. Just remember, some or all of the strategies in the article may not work if you are in the Alternative Minimum Tax, so call me at 818-317-6035 or email me at bstonercpa@sbcglobal.net and let’s make sure these ideas are for you. Here is the article:http://www.smartmoney.com/taxes/income/year-end-tax-planning-strategies-for-individuals/
Brian’s Financial Musings
If you have a kid in high school and are wondering about using life insurance to finance college, I saw this article in Smart Money that discusses pros and cons. Here is the article:http://www.smartmoney.com/plan/insurance/insurers-target-college-savers-1319507624459/I think the key is to make sure this fits into what you want to do and that you understand the process before you jump into anything.
Brian’s Tax Musings
Are you a resident of one state but have property or income coming from another. You might have to file a non-resident return for that other state and if you don’t file correctly you could incorrectly pay tax to both states. This might be the time to discuss what to do. Email me at bstonercpa@sbcglobal.net or call me at 818-317-6035 and let’s make sure you don’t pay any more tax than you are required to!