Tax Return Review – “Covering Your Bases”

Bob and Sue earn most of their income through wages, but they also have a small photography business. In this review, Steven offers advice on reducing taxable income and planning for their tax liability throughout the year by using a combination of tax credits, retirement savings, and common expenses for small businesses.

 

 

Recommended Articles

Midyear Tax Planning for Financial Advisors

There is a fantastic opportunity for advisors to add value for their clients by checking in midyear and reviewing a pay stub to make sure their clients are on track.

Read More

Is it too late to convert to a Roth?

There is also no earned income requirement to convert to a Roth. As long as you have a balance in an IRA, in theory, you can keep converting to a Roth as long as you like.

Read More

Known Unknowns: Tax Planning Amid Uncertain Law Changes

Tax law may be uncertain, but advisors should still be broaching these tax topics with current clients.

Read More

The information on this site is for education only and should not be considered tax advice. Retirement Tax Services is not affiliated with Shilanski & Associates, Jarvis Financial Services or any other financial services firms.

Contact Us