As the song says, "It's the most wonderful time of the year," but amid the hustle and bustle of the holidays, it's worthwhile to remember this is also a great time of year to take stock of your investments, and see what options you have before January 1 to reduce the taxes you'll owe come April 15. Here to explore year-end tax strategies that could allow you to keep more of your money are David Foster, senior vice president at Foster and Motley, and local financial advisor Chris DeSimio. If you have questions about what you can do to reduce your taxes, please let us know.
If the winter weather isn’t enough to worry about, remember the April 15 tax filing deadline is now just six weeks away. Instructions for Form 1040 run 206 pages, the 1040EZ instruction booklet is 42 pages long. If you’ve already completed your return, congratulations, but if not, there are several changes to watch for this year.