Fall Back – Time to Save

Sunday, November 4th at 2:00 am marks the end of Daylight Savings Time when our clocks are set back an hour.  Traditionally, this has been a recommended time to check and prepare household and office safety such as smoke detectors— yet it is also a great time to address your taxes. Tax planning throughout the year is optimal, but year-end tax planning can help you realize many benefits before you file your next year’s tax return.  It could lead to MORE CASH, LESS TAX, BETTER BUSINESS.  The following is a tax planning tip that you must take action on before Dec 31 to claim on your next tax return: 
  • Consider which tax credits and deductions can be claimed on your 2018 Tax Return before 2018 ends.
  • Make a list of year-end tax deductions so you can save money on all your expenses or payments.
  • Make a list of year-end tax credits to reduce your tax payments.
The 2017 Tax Reform Law included not only new individual changes, but also made several changes that will have a tremendous impact on business owners. Throughout the year, Scott and Company has been proactive in keeping our clients in-the-know through our website, social media, e-newsletters, Legislative Updates,published and online articles, seminars, and webinars.  We are here to help guide our clients through the new changes and make filing their 2018 tax return a smooth transition.