Well, here we are into December, the final month of 2019 — and the final month of this DECADE. A lot sure has changed, for you, for me, and for the world. But before we wax too retrospective, let's sit where we are for a bit.
The December holidays are upon us.
And it's also the time for another kind of giving: giving to yourself.
What do I mean by that? Well, it's simple, really: take some time during the rush of these holidays and do SOMETHING to positively affect your tax bill.
Because the fact remains that anything done after 12/31/2019 won't be able to help you, at least for 2019 (with a few tiny exceptions, like IRA's, etc.).
So to that end, I thought I'd work to get you thinking a little, and ask you to consider the following questions, and if you realize you've had big changes this year … there might be some moves to make. Send us an email through the button at the top of the page if so.
This isn't our "official" tax preparation questionnaire, it's simply designed to help us figure out if we can do something before year-end to make a real difference … before we can't anymore.
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1) Have you had a significant change in your wage income this year?
<Put YOUR answer here in your email reply>
2) Have you taken capital gains or losses this year? Are you planning to?
<Put YOUR answer here in your email reply>
3) Did you start or sell a business this year?
BONUS QUESTION: Do you know anyone who did, that would like input on their tax situation?
<Put YOUR answer here in your email reply>
4) Did you purchase real estate?
<Put YOUR answer here in your email reply>
5) Did you make your full contributions to retirement accounts?
<Put YOUR answer here in your email reply>
6) Have you considered a Roth IRA?
<Put YOUR answer here in your email reply>
7) Did you withdraw from retirement accounts, and for what purpose?
<Put YOUR answer here in your email reply>
**8) Have you sent your family and friends our way — and, if not, is there a way we can help to make this easier?
<Put YOUR answer here in your email reply>
9) Are there any other tax or financial (or other) issues you think we should know about?
<Put YOUR answer here in your email reply>
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Now — your answers to these questions are just a beginning (not an end), and they will help us to know which direction to take as we work with you over the next month to prepare for year-end. With your permission, we'll contact you back, as appropriate, and set up a time to discuss them further with you, whether by phone or other method.
Hope to see you in here soon…
Warmly,
Richard Lindsey
(251) 633-4070
Lindsey & Waldo, LLC