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  • Mark Young, CPA

Year-end Tax Planning

It’s the time of year to do year-end tax planning. We offer tax planning services for our tax preparation clients.

Not everyone needs to have tax planning done, so let’s review when you should contact me.

First off, you should have a tax review anytime you have a major change in your financial situation from the prior year. Examples are:

  • You exercised a large amount of stock options

  • You sold a rental property

  • You sold a large amount of stock in a taxable account

  • You were married or divorced during the year

  • Your sold or purchased a home

  • Any other major change that will impact your tax return

Basically, what I’ll need from you is:

  1. Your year-to-date paycheck stubs (so that I can extrapolate out your income and deductions for the full year.

  2. ​ A list of any other income or deductions that will vary from the prior year.

After reviewing your information, I will compare it with your income and deductions from your prior year's return, and make adjustments as necessary for the current tax year.

Once we have a substantial idea of what your tax return will look like this year, we will discuss the things you can do from now until the end of the year to reduce your taxes.

If this applies to you, or if you're not sure you need tax planning, and you are an existing tax client, just give me a call or send me an email with your situation. I’d be happy to let you know if I think tax planning would benefit you.

Please see our Legal Statement.

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