Benjamin Franklin wrote in a letter in 1789:
Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.
Even Mr. Franklin may not have predicted that in future years, not only would death and taxes be certain, but death can also be a taxable event.
In any event, it is the time of year we call “tax season,” so you should shortly be receiving W-2’s from your employers, 1099-INT’s from your banks, 1099-DIV’s from your brokerages, and 1098’s from your mortgage servicers.
The laws regarding federal and state taxation change every year, becoming more and more complicated. Making sure you are compliant in your filings – especially if you have a small business – can take a lot of time and effort.
Here at Nelson Professional Group, we are experienced in not only preparing tax returns of all stripes (individuals, LLCs, S-corporations, etc.), we can help you strategize so that you can maximize your after-tax cash flow. Call on us if you’d like to see more green this tax season. We’ll help reduce the taxes and the stress that goes with it so you can push death away for many years to come.