It's hard to believe but it is year-end and tax season is right around the corner.  Even though you won't file your tax return until 2008, now is the time to start planning to ensure you won't be in for any suprises when you do file your 2007 Income Tax Return.  Typically, small business owners and anyone that had any significant changes in their tax situation during 2007 (i.e. started a business, saw a large income increase, marriage, etc) should review their income and deductions for 2007 to determine if they will owe or get a refund when they file their 2007 tax return.  We can prepare a tax estimate for you this month and based on that estimate, you would have until the end of the year to take the necessary steps to lower your tax bill.  We do bill for this service, but the tax savings could greatly outweigh the charge for the year-end tax planning and estimate.

 

We included an article this month about the benefits of year-end tax planning.  Please let us know if we can be of any service to you before year-end!

 

Enjoy this months newsletter!