Tax Planning Ideas
• Make end of year donations of clothing and household goods and cash contributions to qualified charities. see Donation Guide tab.
• Consider converting traditional IRAs into a Roth IRA
Did you know that FLP Tax & Planning Service, can help you update your financial plan?
1. Learn about alternatives to Long Term Care Insurance.
2. Improve your family protection plan with affordable Term Life Insurance.
3. Realign taxable dividends and capital gains to defer taxation.
4. Get bigger tax refunds, or smaller ones, by making adjustments to your W-4 withholding form with your employer.
5. For the self-employed, establish timely estimated tax payments so that you won’t have to make catch up payments every April 15th.
6. Get help planning for startup businesses. Will you choose to be a corporation, partnership, sole-proprietorship, or LLC (Limited Liability Co), and why?
Are you getting close to retirement and want to know what to plan for?
• How to plan for Medicare and social security benefits, and the various types of insurance you’ll need when you become eligible.
• Options for reducing income taxes in retirement.
• Know When you must take Required Minimum Distribution (RMD) from your IRA accounts.
• Estate planning, and how to reduce potential taxes on your estate.
Have you signed up for the FLP Secure Portal to exchange documents and store your PDF tax returns? Let us know if you need an access link or a password reset.
FLP Tax Service is accepting new clients. Please have your friends or relatives who are looking for a new tax preparer, contact Rich now rather than waiting till the busy tax season. They can call or go to our web-site to contact us. They will thank you; you will also receive $25 check for every completed tax return, excluding dependent returns. 847-608-0547
38W780 Hogan Hill
Elgin, IL 60124