Are You Ready for Tax Season?
Slightly more tolerable than the Grim Reaper but nearly as menacing, the end of the holiday season begins the countdown to tax preparation and filing.
Every year seems to add another layer of complexity to this already stressful exercise. We believe that this ordeal should be used as a learning experience relative to your overall finances and planning.
1099's indicate where your assets are and what the earnings are relative to those assets. You may discover that your interest on savings, money market accounts, etc. are so miniscule relative to what is needed to keep pace with the rising cost of living. You may also discover that the way of investing may translate to tax efficiency and may reward you with a great after tax return.
Please read my first in a series of tax awareness in investing titled, "The Tax Man Cometh". This first article is a look back to what may possibly be done now to reduce last year's taxes. The next articles will be forward thinking and thought provoking relative to considerations for 2015 and beyond.
Want to read more? here.