Tax Planning can be accomplished in two stages. We are available to meet with the client prior to year-end to discuss options as well as meeting in the new year prior to the filing deadlines to help you maximize your returns or minimize your payments.

< End Year - 1> There are several preparations that can be made before the end of the year to minimize your tax liability for the year. Here is a list of a few options available.

Make all of your charity donations by December 31 in order to use them as a tax deduction on your return. Also consider donating stock to get a special tax break.

Consider selling stocks that are held outside of your registered plans that will create a loss to offset any capital gains that you must claim for the year.

If you defer a sale of any assets that would yield capital gains you will not have to pay income tax on the gains until the following year.

Invest in a tax shelter that will allow you to deduct your full investment. Consult with a tax advisor as there are tax shelters that have a very high risk tolerance.

The final consideration to minimize your tax liability would be to make an IRA contribution by the deadline.

There are of course many other items, but contact us today so we can assist you with finding the best means for you to keep your money where it belongs - in your pocket!