Tax Tips

Estate Planning Tips


Soar like the gulls!

Tax Tips for Everyone

Money in your pocket!
  • Consider donating appreciated securities in order to void paying the capital gains tax on sales.  Also, gather together your used goods for a non-cash contribution to your favorite charity before yearend.
  • When it has been a down year in the stock market, sell all your losing positions to realize the loss this year.  You must wait 31 days before buying a stock back to avoid the wash sale rules. 
  • For your business, consider buying new computers, printers, fax machines, etc. in order to take advantage of the increased Section 179 deduction this year.
  • Prepay your January mortgage payment to get the interest deduction this year.  Send it early enough for the mortgage company to include it on your 1098 form.