YEAR-END TAX PLANNING FOR INDIVIDUALS – Advance Tax Relief – 800-790-8574

Tax planning strategies for individuals this year include postponing income and accelerating deductions, as well as careful consideration of timing related investments, charitable gifts, and retirement planning.

General tax planning strategies that taxpayers might consider include the following:

  • Sell any investments on which you have a gain or loss this year. For more on this, see Goodbye 2015 blank list, business conceptInvestment Gains and Losses, below.
  • If you anticipate an increase in taxable income in 2016 and are expecting a bonus at year-end, try to get it before December 31. Keep in mind, however, that contractual bonuses are different, in that they are typically not paid out until the first quarter of the following year. Therefore, any taxes owed on a contractual bonus would not be due until you file a tax return for tax year 2017.
  • Prepay deductible expenses such as charitable contributions and medical expenses this year using a credit card. This strategy works because deductions may be taken based on when the expense was charged on the credit card, not when the bill was paid.For example, if you charge a medical expense in December but pay the bill in January, assuming it’s an eligible medical expense, it can be taken as a deduction on your 2016 tax return.
  • If your company grants stock options, you may want to exercise the option or sell stock acquired by exercise of an option this year if you think your tax bracket will be higher in 2017. Exercising this option is often but not always a taxable event; sale of the stock is almost always a taxable event.
  • If you’re self-employed, send invoices or bills to clients or customers this year to be paid in full by the end of December.

_________________________________________________________________

Some Recent Tax Settlements :

  1. Mr. Dillard – CA Owed $6884, IRS settled for $400
  2. Mr. Batiste – LA Owed $18513, IRS settled for $2972
  3. Mr. Johnson – CA Owed $21,378, IRS settled for $4500
  4. Ms. Gonzalez – TX Owed $28,816, IRS settled for $1700
  5. Mr. Anthony – NY Owed $14,000, IRS settled for $900
  6. Mr. Wilkes – CA Owed 32,211, IRS settled for $1250

Owe the IRS and need help? Call us to discuss your unique situation (800)790-8574

We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574 or visit our

 

ADVANCE TAX RELIEF LLC

BBB Accredited Business – As Seen on TV!

Have tax problems? Call (800)790-8574

 

TESTIMONIAL:

“My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful” – Shirley W, Tampa FL

Connect with us:

 

BBB PAGE:

 

GOOGLE PAGE:

 

MANTA:

 

BLOGGER:

 

YAHOO:

 

YOUTUBE:

 

YELP:

 

ADVANCE TAX RELIEF is not a Traditional CPA or Law Firm. We are Professional Tax Organization of Tax Attorneys, IRS Enrolled Agents, Tax Professionals and Ex IRS employees that help struggling Taxpayers settle or resolve that back tax problems. Call us (800)970-8574 for a free consultation.

 

#backtaxhelp #offerincompromise #wesettletaxes #taxlienhelp #wagegarnishmenthelp #taxattorneys #unfiledtaxreturns

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s