As the year winds down, this is a critical time for tax preparation. Accounting Today produced 10 tips for year-end tax planning. Click here to view their advice slideshow.
They recommend:
- Pay attention to changes Congress has enacted for 2015.
- Document your business activities.
- Prepare your information reporting.
- Document and file your charitable contributions.
- Don’t forget your state/local tax obligations.
- If you split your time between residences in different states, check the rules.
- Accelerate deductions and defer income.
- Manage your gains and losses.
- Bunch itemized deductions.
- Make Up a Tax Shortfall with Increased Withholding
As always, we are here to help. To connect with an expert in preparation for tax time, contact us at paula@obdc.com or 510-830-3202. OBDC is also the new host of the Alameda County Small Business Development Center. SBDCs are a great resource for support for your small business. Click here to sign up with the SBDC today.
