Tax Preparation Tips
By John Kaye, CPA
Tax time is here! Are you wondering whether to do your own taxes or use a qualified tax professional? First, consider this: there have been approximately 100 new tax law changes in the past year alone. Then, consider your own tax situation. How complex is it? Did you have any major life events, changes in job status, property sales or other things that complicate your 2013 tax return? Unless you situation is extremely straightforward, you might be better served be using the services of a tax professional.
First call and schedule an appointment. Next make sure to gather all your receipts and important paperwork from the previous year. If in doubt, bring it along. Finally, make a list of questions you have for your tax pro.
At your appointment, you should talk about things you can do to optimize your tax situation for next year. Remember, it’s never too early to start planning. You should discus things like setting up an individual retirement account (IRA) or a health savings account (HSA)—depending on your situation both of these accounts could potentially impact your tax bill. Bank of Luxemburg can help you with setting up IRAs or HSAs
If you have any questions or want to locate a qualified tax professional, contact us here at Bank of Luxemburg at (920) 845-2345.
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