“There can be no happiness if the things we believe in are different from the things we do.”
– Freya Madeline Stark
Well, the final holiday during this season is upon us this week. It’s a time for looking back, and, of course, looking ahead.
I’ve got my own resolutions for 2009…
1) Eat a more healthy diet, and get in better shape.
2) Provide my clients and their friends with THE STANDARD in tax preparation and financial advice.
3) Lead my team well.
4) Save you a bunch of money, despiteâ€”and even as a result ofâ€”the changing tax code!
What are YOUR resolutions for 2009? Send me an email…I’d love to know!
In some ways, this whole ritual of “resolution-making” can become very cliche, but look–we all need little “nudges” to help us actually make changes in our lives. I see it as my role in your life to not only provide authoritative and actionable advice for your financial situation, but also to play the role as “coach” in your particular situation.
This is why our clients and their friends seek us out for *more* than simple tax preparation, but a whole host of other services as well–from planning, to business services, to simple encouragement. I get to be someone in your life who says: “You can do this. You’re not alone.”
It’s my great hope that our relationship will continue to grow into 2009, and beyond. And not just for “business purposes”. We love our clients…you’re a family to us! I should say I mean that in the *positive* sense…we all might be a bit “familied-out” right about now! 🙂
Bless you, and we will certainly see you soon! In the meantime, here’s some further “end of the year” thoughts for you…
â€œReal Worldâ€ Personal Strategy
Know Your Deductions, These Last Few Days…
You’ve got a couple days left to establish further deductions for your TY2008 (Tax Year 2008) return.
You can deduct from taxable income any money you spend on health care, state and local taxes, mortgage interest, charitable donations, and tax preparation fees. Covering the various ins-and-outs of itemizing can get rather detailed–which is why we do it all for you– but here’s some deductions you could take now if you think your tax burden for THIS year (as opposed to next) could use a little “lessening”.
You can claim an itemized deduction for:
* Medical, dental, prescription drugs, and other health care costs
* State and local income taxes or state and local sales taxes
* Real estate (property) taxes
* Personal property taxes (such as motor vehicle registration fees)
* Interest paid on a home mortgage
* Interest paid on investments (such as margin interest)
* Cash contributions to charities and churches
* The fair market value of non-cash contributions to charities and churches
* Personal losses because of theft or casualty
* Job-related expenses that your employer did not reimburse you for
* Union dues
* Cost of purchasing or cleaning uniforms
* Job-related education and professional development
* Job-related travel
* Home office expenses
* Tax preparation fees
* Investment fees and expenses (such as IRA custodial fees and annual brokerage fees)
* Safe deposit box fees
* Gambling losses (only to the extent of gambling winnings)
So, you can add to these deductions by taking action these next few days! Well, maybe I wouldn’t recommend the “gambling losses”, but everything else might be something you act on NOW while you still have time left!
Oh, and let me be one of the first to wish you…
Happy New Year!