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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