CLIENT KNOWLEDGE BASE

    Fall Tax Planning

    As football season approaches and Fall is in the air...it is a GREAT time to get the blocking and tackling of tax strategy in place.

    Oftentimes, we see clients wait until the last month or two to execute strategies that can be used all 12 months of the year.  Let's refresh on some of the basics to ensure you can capture tax deductions this year!


    1. 1

      The Accountable Plan

      Are you a business owner looking to take advantage of the Home Office deduction (including pro rata depreciation) and reimbursements, tax free?  Complete you Accountable Plan year to date! 
    2. 2

      The Augusta Rule

      • There are plenty of opportunities in the Fall and towards year end to hold strategic meetings at your home to secure tax deductions

      • Ensure that you are measuring the Fair Market Value and you complete our Augusta Rule packet
    3. 3

      Retirement and HSA Planning

      • If you are self employed with a SEP or Solo 401k...do not wait until the last minute to make all of your contributions! 

      • Fund your HSA, IRA, 401k, SEP NOW
        • This gives you better compound interest
        • Ensures you estimated taxes can be reduced
    4. 4

      Considering Alternative Investments

      • If you are in need of larger offsets given high income, have you considered our alternative investment opportunities?

      • Typically these take 45-60 days to complete, so waiting until November or December can be cutting it too close

      • Interested in pursuing one?  Send your PM a note in Soraban and we will set up a joint call to ensure this tax benefit can be secured in the current year!

      Fall is a GREAT time to get ahead of year end tax planning.  We encourage you to reach our to our team on Soraban with any questions or assistance needed in implementing these "blocking and tackling" strategies before year end!   
    If you still have a question, we’re here to help. Contact us