Mid-Year Tax Review

A mid-year tax review is an excellent idea for anybody whether individual or business owner.

Most people don’t even want to be reminded of taxes once the dreaded April 15 deadline is past but the smart ones know you need to stay on top of your financial situation to avoid unwanted surprises. If you do a mid-year review, you won’t have the huge stress you have every tax season because you’ll have a really good idea of where you’ll stand at year end.

Let Alison Tax Services, LLC with it partner Alison, LLC - Investment Advisors, do a complete mid-year review for you. We will start by assessing your current situation. What has changed in your life? As an individual, did you or are you going to purchase a house this year? Did you get married or divorced? Have you taken on any extra financial burden like the support of a family member or are you expecting a child this year? Did you inherit a large sum of money or get a nice raise from your boss? Have you suddenly found yourself disabled? All of these circumstances plus many more can drastically affect your tax situation. At Alison Tax Services, LLC, we will also make sure you are not taking out too little in withholding taxes or you forgot about the tax you’ll have to pay on that freelance work you’ve been doing on the side.

For business owners, we look at your bottom line. Are you making more money than you anticipated or have you had huge losses? Have you regularly been putting away money into a savings account for when it comes time to pay taxes? Have you been making your estimated tax payments? If you haven’t paid enough estimated taxes, you will be able to adjust it during the rest of the year. Perhaps you’ve made a lot of money in the last six months, maybe this is a good time to purchase that expensive office equipment you’ve needed and take the write off on the next tax filing.

We highly recommend that regardless if you own a business or not, you need to keep good records. We can help you get organized. Deal with it now so you are not so overwhelmed at year-end. Do you have all your receipts? You’ll need them if you are ever audited.

Alison Tax Services, LLC can do all your accounting and put your books on computer. Think how much time you’ll save which will free you up to run your business or just enjoy life.

For stress relief and peace of mind, plan ahead and call Alison Tax Services, LLC for all your financial needs.