Did You Pay More Taxes Than You Needed to? Now Is the Time to Strategize for Next Year
When we review the most recent taxes of new clients, we usually find they were paying more taxes than they should have. Most of these individuals had either prepared their tax returns themselves or did not receive adequate advice from their previous tax preparer. The most prevalent problem we find is failure to adequately tax plan.
What is Tax Planning?
The main purpose of tax planning is to reduce your year-end tax bill for the following and future years. This includes helping you become aware of the short and long-term tax consequences of your past decisions and establishing the actions you could take to improve your situation.
Tax Planning Advice
Your tax preparer should provide you more than just an accurate tax return. In addition, he or she should offer you advice on how to hold onto as much of your money as possible by helping you make informed decisions. Thus, your tax preparer’s knowledge base concerning the latest tax laws and strategies need to be thorough and up-to-date.
Your Review
Your tax professional should review your latest tax return and overall situation. This includes your employment history, assets, and equity. The tax professional should look at the percentage of your earnings that are going to federal and state taxes, and determine whether and how you could reduce your tax liability. Based on this review, your tax professional should be able to make recommendations on what strategy to take and answer your questions.
Don’t Procrastinate
Although tax season just ended, it is easy to overlook that we just completed the fourth month of 2016. If you meet with your tax professional now and implement some new tax strategies, you may begin reaping the benefits of your decisions next year.
For more information concerning Professional Tax Services, call 661-259-1967. Through the EZ2 Thrive program, Professional Tax Services provides unlimited complimentary tax planning advice to their clients. For information on how you can receive tax planning advice at no cost, visit www.scvprotaxservices.com.
ADVERTISE WITH US
A Note From the Publishers – April 2024
We simply couldn’t resist! Our covers are in high demand, so this month, we are thrilled to feature four non-profits, each promoting their upcoming events. Each event offers its own unique experience, showcasing the diversity of our community.First on the list...
Wine on the Roof Returns on April 25, 2024
\Wine on the Roof will take place on Thursday, April 25th from 6:30-10pm at The Centre (the former Sports Complex at Golden Valley/Centre Pointe Parkway in Santa Clarita). This unique fundraising event benefits the WiSH Education Foundation and features a SIX...
SCV Senior Center Prepares for Celebrity Waiter Celebration Saturday, April 27, 2024
The SCV Senior Center is preparing for their annual fundraising event – Celebrity Waiter – with the theme – “California Dreamin’” on Saturday, April 27th at Bella Vida. Table Sponsorships are still available.The headliner for the event is “Surfin’” – A Beach...
ABOUT THE MAGAZINE
Santa Clarita Magazine has set a high standard for excellence in advertising for over 34 years. A family owned and operated business, Santa Clarita Magazine has grown with the Santa Clarita Valley since 1990 and become the #1 place to advertise locally.
FOLLOW US
SANTA CLARITA MAGAZINE
PO Box 801570
Valencia Ca 91380
For Advertising information
Call or Text: 1 (661) 294-4444