Tax Coach

Many individuals and business owners get their taxes prepared then wait until the next year to follow the process all over again. Tax planning is necessary in maximizing your refund. With added help you can learn different ways to maximize your refund. Here's just a few tips I would like to share on some ways to maximize your refund:

 

* Hire your child within your business and receive $5,540 per child

 

* If you bought a house after April 8, 2008 or will buy one before December 1, 2009 then you can receive a credit up to $8000.00. Applies only to 1st time homebuyers or anyone who have not owned a home within the last 3 years prior to purchasing the home.

 

* Convert non-mortgage interest to mortgage interest.

 

* Give unwanted personal property to charitable organizations

 

Almost all expenses related to business activities are deductible, so please try to account for all your expenses . A record keeping system that allows you to retain records for at least 4 years should be adopted for your records. If you need a system in place, give us a call for FREE consultation.

 

If interested in a tax plan based on your current needs please give us a call at 770-947-3667.