With the 2018 tax filing deadlines behind us, it’s time to look ahead. Starting to look into your ’19 taxes now can help minimize tax-time surprises.

One way of doing so is allowing us to help determine if your federal and state tax withholdings will be sufficient to avoid surprises or penalties for underpayment of estimated taxes.

Ways To Minimize ’19 Taxes

• Maximize Your Pretax Retirement Plans: Your pretax retirement plans may not be maximized for 2019, providing you with the opportunity to lower your ’19 taxable income.
• Harvest Tax Losses From Investment Accounts: You may have an opportunity to harvest tax losses from investment accounts to offset taxable gains and maximize your annual $3000 capital loss write off.

Other ’19 Tax Items

In addition to minimizing your ’19 tax surprises, our audit may also help with formalizing a startup business or business idea or reviewing the requirements for your existing business entity. For example, if you are operating through an entity that is taxed as an S-Corp. we can discuss the right amount of officers’ compensation and discuss deductible retirement plan options.

The holiday breaks limit our availability, so let’s answer tax questions as soon a possible.  We look forward to helping you minimize ’19 taxes and tax-time surprises.

Please call or e-mail Izaira@taxplus.com to coordinate a tax planning meeting, phone or video conference with our staff.