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White Nelson Diehl Evans 2013-14 Tax Planning Guide Available Online
Tax planning has never been easy, but it also has never been more important than now, for three reasons:
1. The uptick in the economy may well result in greater income for you this year. This means you may have more income that’s subject to tax, and therefore a greater need to take steps to minimize your tax exposure.
2. Recent changes in tax laws will mean higher tax rates and expanded Medicare taxes for many higher-income taxpayers. So you’ll need to take advantage of every tax-reduction strategy available.
3. Those with pass-through activities could be subject to hidden taxes because of their classification inside the pass-through entity.
Additionally, uncertainty about future tax legislation, as well as the extent and sustainability of the recovery, continues to make it difficult to say just how well a plan you formulate now will work if things change. We will therefore need to develop a tax plan with this uncertainty in mind. To help you do that, we are pleased to present our 2013-2014 tax planning guide.
We invite you to look through it and note the tax strategies that seem likely to benefit you. After you have reviewed this guide, please contact us with any questions you may have about developing your unique tax plan.
Tax planning is a process; please don’t wait until filing time! Generally, tax planning strategies must be implemented by December 31st and started well before this date. To save the most, you may need to act now.
Please contact us at your earliest convenience to discuss how we can help you minimize your taxes.
Best regards and Happy Holidays,
White Nelson Diehl Evans LLP