Tips and Strategies
Here are a few items that will help us serve you better:
- Save all receipts, W2's, and 1099's and attach them to the Client Organizer.
- Attach rent payment information to the Client Organizer.
- Dove will need investment information such as original purchase date and price, as well as any reinvested dividends, the sale date and price, and number of shares sold.
- Remember the most commonly forgotten items, amount paid for excise tax on vehicles, amounts donated to charities.
Here are some year end strategies that will allow you to decrease your income tax:
- Prepay January's mortgage.
- Prepay upcoming real estate taxes for next year.
- Donate securities to charity.
- Rent payments are deductible.
- Make donations to charity.
- Discuss investments with your broker to determine if you need to sell or buy in order to adjust gains or losses for the year.
For charitable donations, you will need to have proof of payment. Should you be audited, you may need to produce either a cancelled check or similar bank record, or a receipt from the charity documenting the date and amount.
