Icon Tax Group: Paying Early For Better Returns

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by Michael Lodge

Taxpayers should be thinking of ways to reduce their tax liabilities for their tax returns.  Here are some articles giving a good direction to some of you out there.

Even more ways to lower your tax bill: Find out which deductible expenditures your client should prepay, according to MarketWatch. These strategies include squeezing out a thirteenth mortgage payment before the end of the year, and early payments on state and local taxes, which can be deducted form a federal filing. – MarketWatch

Maximize your deductions now. A Trump presidency means you could lose them: A Trump presidency means your clients may lose certain deductions, according to The Wall Street Journal. Several big deductions are likely to be far less valuable or even disappear next year once the president-elect enters office. — The Wall Street Journal

2017 tax brackets: Here’s how to tell what kind of tax bill your client can expect for the income they will earn in 2017, according to the Motley Fool. Advisors can use the tax schedule breakdown in this story to help clients make their upcoming tax decisions. — Motley Fool

For tax help call our office at:  877.778.1770, make an appointment with one of our professional tax practitioners.