Wednesday, November 13, 2013

It's Never Too Soon to Think about Next Year's Tax Bill

By mid-December, lawyers and accountants, as well as their clients, will be frantically trying to lower 2013 tax bills, by spending down profits, acquiring extra depreciation, or putting new equipment in place by year end.  We're all busy at this time of year, but it's worth starting a month ahead of then, to evaluate your space needs going forward.  If  you have an outstanding offer on space you don't use, have you factored in the benefits of taking an offer this calendar year, before dismissing it?  If you have expansion needs, can the costs of fitting up space be put partially or fully into this tax period?

It's hard to juggle long-term decisions with short-term crises and issues, but there could be a big payoff later, for thinking about April in the chill of November.  You'll thank me later, if this prompts you to act now and save next spring!

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