December 31, 2011 is just around the corner, so it is time to plan. Here are a few tips!
- Check your paycheck withholding. The majority of Americans get a tax refund check, so why not get it all throughout the year instead?
- There are plenty of tax calculators out there to help you estimate your taxes for next year to help you pair down your withholding if you are overpaying or to increase your withholding if you owe.
- Be sure you are keeping all tax-related records for at least 3 years. Scanning these documents and storing them as a PDF can help keep things organized and safe.
- Check your paychecks against your W-2 to make sure they add up.
- Don’t forget to donate to charities.
- Chances are good that a long-term investment will be taxed at a lower rate than short-term investments.
- Maximize your retirement plan contributions.
Call us today for assistance with all your tax needs!