What are appropriate checklists for year-end tax planning?
Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different categories, such as "Filing Status" or "Employee Matters," for ease of reading. When year-end approaches, it might be wise to review each suggestion under the categories that may apply to you.
Filing status and dependents
Family tax planning
If you have qualified student loans (and meet all necessary requirements), you may be entitled to take a deduction for the interest you paid during the year.
Business income and expenses
Personal residence and other real estates
Adoption and medical expenses
This is for informational purposes only and does not serve as personal advice. Please speak to a qualified representative about your unique circumstances. Investment advisory services are offered through Cornerstone Wealth Group, LLC dba Cornerstone Wealth, an SEC-registered investment adviser.