With Tax Season Over, Now What?

Most Americans think of doing their taxes as a daunting task that takes place every twelve months. Reactions differ from shock due to the amount owed all the way to joy from planning ways to spend a refund. Most of us want to forget about tax season the minute our returns are filed. Just because tax season is over, doesn’t mean you should forget about taxes until next year. Now is the time to start planning for next year.

A good accountant and investment advisor can team up to plan throughout the year to help you save thousands in taxes. When it comes to your investments, this may mean managing a tax effective portfolio, contributing to a 401(k), or taking distributions from the correct investments and accounts.

Business owners often can save money in tax by setting up the correct business entity, using a SEP IRA or 401(k), and working with a good accountant to make sure they are maximizing their deductions.

Just when you thought it was time to forget about taxes, it’s the perfect time to start planning.

Kevin McNab

This article is written by Kevin J. McNab. Kevin is President of ACE Wealth Partners, LLC and is a CFP®, ChFC®, and CRPC®. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. The views expressed in this blog post are as of the date of the posting, and are subject to change based on market and other conditions. This blog contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Please note that nothing in this blog post should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and you should not consider anything to be, investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants, or attorneys regarding your individual circumstances and needs. No advice may be rendered by ACE Wealth Partners, LLC unless a client service agreement is in place. If you have any questions regarding this Blog Post, please Contact Us. Please read our website DISCLOSURE carefully for additional information.