Tax Planning

Today's tax laws are so complicated that unless your financial affairs are extremely simple, it is likely you will benefit from at least occasional help from a tax professional.  Even the use of computer software is no substitute for the assistance of a professional tax planner.  

Your Tax-Cutting Checklist

Whether you are a wage earner, an investor, a business owner, or all three, you should use the tax-cutting benefits available in the tax laws.  There is little to be gained by paying more tax than the law requires.

Identify the tax-savers of which you qualify.  Here is a tax-cutting checklist to get you started.
Check the list to see if there are any tax breaks you might be overlooking.

For Individuals:
  • Roth IRA
  • Roth 401(k) if employer's plan permits
  • Rollover to Roth IRA
  • Tax-Deductible IRA
  • Child tax credit
  • Child care credit
  • Earned income credit
  • Annual gifts to reduce estate
  • Education savings account
  • Education expenses
  • American opportunity tax credit
  • Lifetime learning credit
  • Bunching deductions
  • Flexible spending accounts
  • Health savings account
  • Donating appreciated assets instead of cash
  • Qualifying property for personal residence gain exclusion
  • Best filing status
  • Shifting income or deductions from year to year
  • Adoption expense credit

For Investors:
  • Tax-free municipal bonds
  • Long-term capital gains
  • Rental property
  • Tax-free exchange
  • Low-income housing credit
  • Small business stock rollover

For Businesses:
  • Home office deduction
  • Keogh plan
  • SIMPLE plan
  • SEP
  • 401(k) plan
  • First year expensing of business equipment
  • Year-end bonuses
  • Bad debt write-off
  • Disabled access credit
  • Other business tax credits
  • Tax-free exchange

Please feel free to contact our office regarding any questions you might have regarding these and other strategies that could reduce your taxes.

Contact Us

Phone:  (314) 775-4075
Fax:      (573) 803-0901
email:    jdmoore@jdmooreassociates.com