5 Weeks Remaining in 2014. Tax Savings Opportunities Will be Gone Forever
Well it is that time of the year again. The year is about to end with just about 5 weeks remaining in 2014. Tax savings opportunities will be gone forever for this year ,once December 31st rolls around.
If you did not create a personalized tax strategy for this year and more importantly, did not implement it, you are basically condemned to paying higher taxes than you had to pay. If you had taken advantage of numerous legal loopholes available in the tax code to pay less tax you would be ahead of IRS, but you are not. It will be that year once again when you will curse, the IRS, the government, your accountant, your stars,….. your whatever, but still pay far too much tax. Then you will resolve once again to do something about these atrocious taxes next year. And that new year will come and go as well as it has happened this year.
Every year in December I review my database of chiropractors, dentists and MDs who contacted me during that year complaining that they paid too much in tax and wanted some legal tax savings. I do my analysis and then advise most of them that they could save a ton of money in taxes if they follow a few tax saving strategies suited for them. These strategies are court-tested and IRS-approved and are used by millions of other Americans. Some of these doctors decide to do something about their situation and indulge in tax planning and implementation of those plans.
The remaining doctors always have an excuse about why they cannot get their own tax savings strategies created at that time. The excuses are similar and varied but usually are just excuses. I forget about this group until the end of the year. At this time I look at their names and try to remember their faces and think how they will look like next year when they will see their hefty tax bills knowing that they could have done something about this the last year. But I guess one can’t help them all!
Well all is still not lost. My office is still receiving calls and scheduling online meetings with me for those doctors who, although a little late, are still eligible for a number tax advantaged maneuvers to put their affairs in order to get themselves inline for some hefty tax savings. Interestingly, we provide this tax analysis service free of charge with no obligation on the doctor’s part to use our services for their tax preparation. If you or someone you know wants to indulge in some legal last minute tax savings maneuvers, now is the time. Just give my office a call at 212-203-9670 or visit my website www.JayMalik.com.