As the end of the calendar year approaches, we’ve asked our accountant to share his perspective on year-end tax steps that CM.com readers should consider. He’ has graciously accepted; though wants us to make it crystal clear this article is for educational purposes only. It is not actual tax advice — which of course must be based on your own specific circumstances. Any action you may decide to take on these topics should be done, if possible, in careful consideration and collaboration with an accounting professional you trust.
In this post, I’ll provide a few checklists of year-end activities to help you:
- be aware of the range of deductions/tax breaks you’re legally entitled to
- avoid some common risks most taxpayers don’t realize they’re exposed to
- learn some useful tips if you own your own business or own alternative investments
by blaggers