There may be a few moves we can make that can help your tax hit before weâ€™re forced into â€œreaction modeâ€ â€” which is the only mode out of which after-the-fact tax work can be done. So, if at all possible, Iâ€™d like to change that paradigm for you by having you answer a few short questionsâ€¦
So, without further ado â€” some questions for you:
Have you had a significant change in your wage income this year?
Have you taken capital gains or losses this year? Are you planning to?
Did you start or sell a business this year?
Did you purchase real estate?
Did you make your full contributions to retirement accounts?
Have you considered a Roth IRA?
Did you withdraw from retirement accounts, and for what purpose?
Are there any other issues you think we should know about?
Now â€” the answers to these questions form the â€œtip of the icebergâ€, and they will help us to know which direction to take as we work with you.