As we are getting close to the end of the year, we have time to consider some year end planning tips.
- - Be sure the addresses for employees are correct.
- - Order or purchase W-2s and 1099 forms to submit to IRS and Social Security Administration.
- - Pay real estate taxes by December 31st if you usually itemize on your taxes.
- - Purchase any needed equipment by December 31st if you have net income and would like to reduce taxes.
- - Set aside money for retirement funding if you are able to contribute to a traditional IRA, SEP IRA, Solo 401(k), etc.
- - Make donations to charity if you usually itemize.
- - Max out your Health Savings Account.
If you have questions about your 2016 taxes, call Jones and Company CPAs PA at 727-845-4166 or visit online at www.jonescpas.com.