It’s time to Schedule an End of Year Tax Check

Oct 27, 2020

Some people are conscientious about making appointments to visit their doctor on an annual basis. Being diligent about keeping these appointments helps diagnose underlying issues before they become a problem, create a plan to treat a problem, save money on treating a bigger health issue down the road and contribute toward developing a more trusting relationship with your physician. The same can be said for taxes. No one wants a big, expensive surprise when they visit their tax advisor in January, especially when it comes to making sense of their 2020 taxes. An end of year tax check, like a medical exam, can shed clarity on the year, detect and solve potentially expensive issues, reduce the taxes you’ll owe next April and give you the opportunity to ask more in-depth questions about your taxes before the crunch of tax season. Now is the time to schedule that year end income check if you’ve experienced any of the following:
  • Self-employment income
  • Unemployment Income
  • Change in income/increase or decrease
  • Sale of real estate
  • Sale of inherited property
  • Sale of investments
  • Investment income
  • Distributions from your retirement accounts
  • Cancelled debt
When we meet, my goal will be to shed clarity on the year, provide in-depth answers to questions about your unique situation, and run estimates for self-employment income, unemployment income, capital gains, and various items authorized by the CARES act. I look forward to examining your tax situation and coming up with a specialized plan to keep your finances healthy!

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