November 1, 2017
The end of the year is often hectic, which is why it’s important to take some time now to reduce your tax bill. Our firm can offer additional strategies to further mitigate your tax burden; however, the following 5 tips are an excellent starting point:
The tips above offer a few ways to save significant money by putting a tax plan in place before the end of the year. You can also schedule an appointment with our firm to develop a customized tax strategy and perhaps reap additional savings.
Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error.
What do accountants do with themselves after tax season? Actually, the same thing they do during busy season: They work hard for their clients. The only difference is that instead of cranking out tax returns, they help clients work through other aspects of their financial health—including issues revealed during the yearly tax return process.
The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit.