Dec 4

What to Expect When Filing Your 2013 Tax Return

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Did you know that the government shutdown has had an impact on your tax return? Because the shutdown prevented the IRS from doing some of its standard tax season preparation, the filing season will begin a little later and your refund could be delayed a week or two. There are also numerous changes in tax laws that might affect your tax bill for 2013, including steeper rates, a new tax on investment income, changes in deduction options for higher-income taxpayers and extended tax benefits for those in the middle-income brackets. In addition, new provisions associated with the Affordable Care Act, such as the premium tax credit for some insurance purchases, should be part of your planning.

Contact us to learn the best steps to limit your tax liability and ensure you’ve taken all allowable deductions and credits. We can help you with all your tax and related financial planning.

What to Expect on Your 2013 Business Tax Return

Does your business qualify for the small business health care tax credit? If your company is wrestling with the cost of health care coverage for employers, this tax credit may help you offset your costs. It’s one of the many credits and deductions that business owners should be aware of as they consider this year’s tax return.

Don’t miss out on the chance to take the Section 179 and bonus depreciation deduction for 2013, for example. You should also consider how new rates on ordinary income, capital gains and investment income will affect your bottom line.

Contact us to learn the best steps to take in order to limit your tax liability and ensure you’ve taken all the proper deductions and credits. We can help you with all your tax and other business planning questions.

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