February 14, 2014
With tax season in full swing, you are likely busy compiling all of your tax documents and expense receipts to support the preparation of your return. When you think about it, there is a lot you can learn from preparing to file your tax return. It provides the perfect snapshot of where you stand financially, which can offer important insights into your money management habits. While there are many different components that impact your finances, three key questions to consider when it comes to your taxes include:
Are You Saving Enough for Retirement?
You can tell by looking at your tax return whether you made the maximum allowable contribution to tax-advantaged retirement saving options. If you didn’t this year, you may want to consider looking into setting up a Roth IRA, or another eligible investment account. Business owners who have SEP-IRAs but aren’t making their full contribution may also want to increase them.
Did You Maximize All Available Tax Deductions and Credits?
There are some deductions and tax credits that many taxpayers are aware of, and many more that they are not. By taking the time to review your tax return with our firm you can learn about all of the options you have available to you to lower your tax obligations.
How Should You Use Your Refund?
In addition to making sure that you take the appropriate steps to maximize your tax refund, you should also consider what you do with it once you receive it. One option is to have your refund deposited directly into a savings or retirement account, effectively reducing the temptation to spend it right away. Another smart use for your refund is to use it to pay down any debts that you may have.
If you have questions about your financial situation, remember that we can help. Our team of financial professionals are dedicated to working with clients like you throughout the year to help you ensure that your tax return represents the financial picture you desire.
Leander Limited is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.
Take a moment to look around our new...
February can be a tough month when it comes to motivation and energy levels for many people. So it’s not surprising that employees may seem a little less productive at this time of year. Fortunately, the following four tips can help you put the spring back in your team’s step—and boost the productivity of your business.
Keep Sharing Your Vision
If there’s one time of the year that may inspire you to finally come up with a filing system for all of your bank statements, receipts and other important documents, it’s tax season. Not only will keeping your documents organized make it easier and less stressful for you to find what you need on a daily basis (and when you are getting ready to have your taxes prepared), it will...