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This scenario plays out all over the world, day after day. Things didn’t turn out as you had hoped. Maybe you tried really hard to master a new skill or information, but didn’t pass the required test. Maybe you asked a girl out and she turned you down. Maybe you entered a contest for a cruise, but didn’t get chosen. Maybe you simply wanted to get from the office to your car without papers blowing everywhere. Somewhere along the way, things didn’t turn out as you had hoped.
Sometimes this is coincidence or “bad luck.” Other times, it is lack of preparation. Or maybe it simply wasn’t meant to be. But what if you could alter the outcome?
I’m thinking about your 2018 taxes right now! Did they turn out the way you had hoped? Did you find yourself paying more in taxes than you anticipated? Or having some kind of surprise? Or simply wishing that you could be better prepared for the process?
We highly recommend talking, not only to your tax professional, but also to a financial adviser PRIOR TO tax season. In fact, right now is a good time to start talking about 2019. Are there deductions you can and should be taking advantage of? Is there a way to pace your income so that it doesn’t put you in a higher tax bracket? Should you consider an IRA contribution or other tax-deferred savings plan? This advice is especially true for small business owners. You have options that you may not even know about!
We at Faith Investment Services take a “big picture” approach to your situation. We believe it is more helpful to be relationship advisers than transaction-only advisers and, as a result, we regularly review our clients’ tax strategies and make recommendations that might help. Contact us today if you would like to have a no-cost consultation. (419) 358-4207 And here’s hoping things turn out well for you!
The Facts About Income Tax
Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.