Year End Tax Planning

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:

1. Pay attention to changes Congress has enacted for 2015.
2. Document your business activities.
3. Prepare your information reporting.
4. Document and file your charitable contributions.
5. Don’t forget your state/local tax obligations.
6. If you split your time between residences in different states, check the rules.
7. Accelerate deductions and defer income.
8. Manage your gains and losses.
9. Bunch itemized deductions.
10. 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.

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