Hello clients and friends!
Just a quick 2017 year-end tax planning email - please remember that I am here to help...
As always, if you have questions or concerns - just email me at cpa@garlandtaylor.com or call me at (503) 287-5584. Many questions can be answered in just a few minutes and those are always at no charge to my clients. Please use me as a resource for your tax questions during the year, as this can be a valuable part of my service to you. I'm on my iPhone, just waiting for your questions.
One more 2017 year-end tax planning email will be on my website sometime in November and emailed to you December 1st -> 2017 Tax Planning - "do it before 12-31-17". That will be a list of specific tax actions to take before December 31st. In the meantime, here are some resources + web links to tax planning info. If a link doesn't work (sorry) - please just copy & paste it into your web browser.
2017 Tax Planning Brochure
If I did your taxes last year, you were given this 32 page tax planning brochure along with the paper copy of your returns (blue tax folder, left inside pocket). If we just met this year, I provided the brochure at our meeting. There's some great info inside - tax rates, AMT, minimizing taxes on investments, retirement planning + other tax deductions & tax strategies. For individuals & business.
Please review all articles on my new website at www.garlandtaylor.com
Just click on the "blog" menu & see tax tips & strategies for example.
2017 Year-end Planning articles & tools online, from my national CPA organization, the AICPA
My professional national society has many FREE articles & tax planning tools for your use - concerning small business taxes, owning a home, personal income taxes, retirement planning, education planning, plus lots more - they're all free online tools, so take a look! These are linked on my website or at this url
(click on Income Taxes (can i deduct this?) or Tax Deductions & Credits
Year-end Tax Planning for Investors
The rules on capital gains and losses are set out in IRS Publication 550 (2017 update not published yet).
Here's a link to Oregon Energy Trust Tax Credit info
(Oregon credits usually have an application & certification process, so start that now)
Here are some IRS Tax Tips.
the http://www.irs.gov/ website is full of informative publications
New Tax filing due dates for 2017 partnerships (calendar-March 15th) & c corporation returns (cal-April 15th) and foreign financial accounts FBAR (April 15th)
Affordable Care Act tax provisions
There are potential tax law changes being proposed by the President, so be sure to watch for those in the media. Nothing is in writing as of this date. Here's what the White House is saying...
Also, if you had any significant changes in taxable income, tax deductions, or payroll withholding... Right now is the time to hire me to prepare a detailed 2017 Income Tax Projection to determine changes in your tax liability and whether additional quarterly estimated tax payments are needed to avoid penalties. Please let me know (soon & in writing) if you need this service.
And, if you are a business corporate client (multimember LLC, c corp or s corporation), late November or very early December is the time to show me your 2nd set of 2017 Quickbooks (or other) data file for my perusal & Comment. If you haven't provided any 2017 data as yet, be sure to send it in soon (please see your annual engagement letter). This interim service may be critical to my providing timely advice, before December 31st, that simply cannot be implemented after year-end (especially for all "cash basis" taxpayers).
If you are a sole-proprietorship or single-member LLC, you may also want me to take a look at your 2017 accounting records before year-end. This service is offered on a first-come-first-served basis, so please don't wait too late.
If you are a current tax client, my annual "Income Tax Organizer" will be mailed to you in late December 2017 or early January 2018. If you are a new contact & need 2017 income tax services, I'd be happy to send one to you - please just ask! If I prescheduled your tax appointment last year, I will do so again.
Also, if you have any questions - please feel free to call or email me before then, as noted above.
Thanks again for your business, referrals, nice reviews* & patronage!
I hope all is well with you & yours - have great Fall & Holiday seasons! garland
Garland Taylor CPA, Pres.
Garland R Taylor CPA, PC
205 SE Spokane St Ste 300
* Here's what other clients are saying on the web...
Category:
Tax Planning
Posted on
September 30, 2017
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