Year end tax forecasting:
Now that it’s December, it’s time to do tax dives and year end forecasting. This will help you save money. Planning ahead is the key to staying ahead.
Let’s see if any changes to your employee withholding would be helpful. For those who are self employed, let’s see if your next upcoming January estimated income tax payment should change. Let’s look over your business’s (LLCs / S Corps / C Corps) financial statements so we can see income and expenses and make sure everything is up to date. And if you own your main home, let’s see if it’s helpful to prepay your April 2021 property tax payment by December 31st.
We’ll be wrapping up all forecasts by Christmas, so the sooner the better. Feel free to reach out for more information.