By David M. Kendrick, CPA, MST Now is the perfect time to seize the opportunity to do some mid-year tax planning before summer vacations and the dog days of summer fall upon us in full force and the competing demands of back to school and the holiday season swing into play. Act now to fine-tune your 2012 tax strategies and prepare for the “Fiscal Cliff” coming in 2013! Here are just a few ideas to consider:
• Review estimated tax payments and wage withholding to minimize the potential for underpayment penalties Assuming no action by Congress, there are several tax law changes set for 2013 that could take a bite out of your budget:
• Individual income tax rates will increase so accelerating income into 2012 may pay dividends There is no time like the present to re-visit your tax planning strategies. Please give us a call to reserve your planning appointment today.
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