2011 Individual End Of The Year News Letter

   As the end of 2011 approaches, there are many actions to consider that could reduce your 2011 taxes. Year-end planning is particularly challenging this year given the growing national debate over comprehensive tax reform, the rapid pace of recent tax law changes, and the extensive list of current tax breaks that are scheduled to expire at the end of 2011. Regardless of these looming uncertainties, there are many “time-tested” year-end tax savings techniques that you should consider for 2011.  We are sending you this letter to remind you of the traditional year-end tax planning strategies that help lower your taxable income and postpone the payment of your taxes to later years. In this letter we also help you navigate

2010 Year-End

As we approach the close of 2010, there is still time to take steps that can reduce your 2010 tax bill. Year-end tax planning is more complicated this year due to: ongoing uncertainties regarding tax rates for 2011; questions as to when and if many popular tax breaks that expired last year will be extended; and short windows of opportunity to take advantage of recently-enacted tax breaks that are scheduled to expire after 2010. As we complete this letter, there is no assurance that Congress will resolve these issues by the end of this year. However, regardless of how and when these uncertainties are addressed, there are many “tried and true” year-end tax savings steps that you should consider for

2009 Year-End for the Individual

Dear Client: Once again, it’s time for year-end tax planning. Over the past year, Congress, the IRS, and the courts have flooded us with significant tax developments. The White House has also warned of imminent tax increases, particularly for higher income taxpayers. Collectively, these changes make year-end tax planning for 2009 more important than for any year in recent history! Most recently, Congress passed the American Recovery and Reinvestment Tax Act of 2009, which includes the following individual tax benefits: an increased refundable first-time home buyer’s credit of up to $8,000 (which expires after November 30, 2009, unless extended by Congress); estimated tax payment relief for certain individuals owning small businesses; a deduction for sales tax on the purchase of