Mid-Year Tax Planning Checklist
All too often, taxpayers wait until after the close of the tax year to worry about their taxes, missing opportunities that could reduce their tax liability or help them financially. Fall is the perfect time for tax planning, so call us for an appointment or if you have concerns about any of the questions below.
- Did you get married, divorced or become widowed?
- Did you change jobs or has your spouse started working?
- Did you have a substantial increase or decrease in income?
- Did you buy or sell a rental?
- Did you start, acquire or sell a business?
- Did you buy or sell a home?
- Did you retire this year?
- Did you refinance your home or second home mortgage this year?
- Were you the beneficiary of an inheritance this year?
- Did you have a child? Time to start a tax-advantaged savings plan!
- Are you taking advantage of tax-advantaged retirement savings?
- Have you made any significant equipment purchases for your business?
- Are your cash and non-cash charitable contributions adequately documented?
- Are you keeping up with your estimated tax payments or do they need adjusting?
- Did you make any unplanned withdrawals from an IRA or pension plan?
- Have you stayed abreast of all the new tax law changes?
E Thomas Associates Inc. is a registered investment advisor in Kentucky.
Dave Smith & Tony King are Registered Representatives of and securities are offered through Dalton Strategic Investment Services, Inc., member FINRA & SIPC. 6408 River's Edge Rd, Greenville, OH 45331
.