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Feb 17, 201402:17 PMSmall Business, Big Ideas

with Jean Willard

What’s new in the tax code?

(page 2 of 2)

Another change worth mentioning: Capital gains rates have changed for some taxpayers and have remained the same for others.

The bottom line is that tax laws are always changing. Be sure that when you are preparing your taxes this year, you double-check to make sure that the new taxes have been accounted for. But just as importantly, realize what has been lost, and be sure that you are setting up your estimated tax payments correctly to avoid penalties on the underpayment of taxes.

Never do your taxes in a vacuum. Look to minimize this year’s taxes, but also look ahead to the future and make the best decisions overall for yourself and your business. As always, seek professional advice from your advisors. We play an important role and feel best when we are able to help.

IRS Circular 230 Disclosure: To ensure compliance with Treasury Department Regulations, we advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions or (ii) promoting, marketing, or recommending to another party any tax-related matter addressed herein.

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