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The Time for Year-End Tax Strategies Is NOW




For most people, the fourth quarter is a good time to consider year-end tax strategies. By implementing a tax strategy now, you can gain additional flexibility you might not enjoy if you wait until late December.

Some examples of tax strategies include: selling securities to match capital gains against capital losses, implementing and contributing to a retirement plan, contributing to an IRA, and giving appreciated assets to charities or to other individuals.

Of course, there are many other ways to help you reduce your taxes, and not all of them are available or appropriate for everyone. While it is important to reduce your tax burden, moves made primarily for tax reasons may not be in your overall best interest. It is important to remain focused on your long-term strategies. For example, taxable investments may earn a better return than tax-free investments even after taxes, and some tax strategies may have a negative effect on other aspects of your financial picture.

If you have questions about which tax strategies might be appropriate for you, please contact Tax Specialist Crystal Martin at 717-757-6999 or 800-745-8233. You can also send an email to Crystal by using the form below.

  Need some year-end business planning assistance? Call Small Business Manager Jim Gante, CPA at the numbers above, or listen to his podcast.


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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

IRS Circular 230 Notice: To ensure compliance with requirements imposed by the IRS, we inform you that any US tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.

Securities and advisory services offered through Geneos Wealth Management, Inc. Member FINRA/SIPC. Geneos Wealth Management, Inc is not affiliated with Stambaugh Ness.