I help taxpayers understand their taxes so they pay no more tax than is due and minimize their tax liability. This can be as simple as selling a stock for a gain when you have an offsetting loss, maximizing the available deductions/credits, or doing some tax planning before year end to make sure that you have enough taxes paid in to avoid interest and penalties. Usually, the time spent on a meetin
g to go over what has happened and what will happen during the year pays for itself. It's NOT illegal to structure your transactions in order to minimize your tax liability. Have you ever asked the following questions? Should I withdraw money from my retirement account (before I have reached age 59 1/2)? - FIND OUT BEFORE YOU DO!! What is the 20% Qualified Busness Income Deduction? What is the new 3.8% investment tax and does it affect me? What tax rate do I pay on long term capital gains and qualified dividends? Can I qualify as a real estate tax professional and make my rental real estate income/loss non passive? How can I maximize my contributions to my retirement plan? When does this contribution need to be made? For people ages 72 and older, what is my required minimum distribution (RMD) and when do I need to withdraw it from my retirement account? Tax law is very complex, therefore, the answers to these questions are usually, "it depends" or "more information is needed." This is why a meeting with a tax professional may benefit your situation.
