Whew.  You’re done.  You managed to file your income taxes yesterday.  (Some of you remember- long ago, when we stopped spending money to build America- that the Post Office stayed open until midnight [or 2AM] to yield that coveted 15 April postmark.  No more…)   And, now you won’t worry about taxes for the next 11 months.

Really?  No, now is the time to find a reputable tax/business advisor to get your finances in order.  (We are ready and willing to help you – via phone, eMail, or fax.)  Because, even now, you are 106 days late in your planning.

Do you have a business?

1. Are you an LLC or a corporation? Do you know why you made the choice- or not at all? Does this position still really fit your needs?
2. Are you paying yourself reasonable compensation? (If not, your tax situation could be in great jeopardy.)
3. If your revenue is seasonal (or cyclical), are you determining your tax liability quarterly, to have your tax deposits match your cash flow? (Instead of dividing the liability in 4 and making equal payments.)
4. Do you have a retirement plan? Do you think that it is too expensive?
5. Have you evaluated your insurance (including health) programs?
6. What about your car? Your vacation policies?

What about your personal finances?

1. Can you have an IRA to prepare for retirement?
2. Do you have rental property? Can you qualify as a real estate professional to yield the best deductions?
3. Do you need to make estimated tax payments?
4. Is there a better way to track deductible expenses? (And, do you know which deductions are the most important for you to track?)
5. Do you have household employees (daycare, in-home health care)?  Are you dealing with this properly?

Obviously, these are not all inclusive.  They are just the starting points to insure that you pay the taxes required by law- but only the minimum amount.

That’s among the services we offer- 12 months a year…  That’s the kind of advisor you should be seeking and employing.

 While this post was written long ago and placed in my queue, I must add this addendum given the events of yesterday.
Patriot’s Day… Boston…. The Boston Marathon… An event marred by an act of terrorism.
My heart- and all our hearts, to out to the victims of these evil acts…
And, know that given the change in circumstances- the perpetrators will be caught and prosecuted.   We won’t be blaming others, fighting others.
Long live Freedom and Values!

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