Get Ahead: Leveraging Charitable Giving &

Retirement Plans for Tax Breaks

Looking back at your 2023 income tax return, you might be considering what you could have done differently to lower your tax liability. As we approach the end of 2024, now is the ideal time to ensure you're taking full advantage of tax-saving strategies like Retirement Contributions and Charitable Donations.
In our latest article, we dive deep into ways to:

·       Leverage charitable giving and retirement plans
·       Understand the current tax landscape and limitations
·       Maximize your tax savings and achieve your financial planning goals

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October 15, 2024 - Deadline to file your extended 2023 tax return.

December 31, 2024 – RMD  - Required minimum distributions have to be taken for individuals age 73 or older by the end of 2024.

December 31, 2024 – S-Corp Compliance -  All, more-than-2%-S-Corp owners should be reviewing their payroll compared to their net profitability.

January 15, 2025 - Fourth quarter 2024 estimated tax payment due.

January 31, 2025 -  Deadline for any employees or independent contractors to receive W-2, 1099-NEC, or 1099-MISC tax forms.

Whether you're a business owner or an individual, proactive tax planning can significantly reduce your tax burden and save you both time and money. To assist you, we've created a comprehensive guide that offers practical tips and strategies to minimize your tax liability, maximize deductions, and avoid common pitfalls.

Jeanine Hemingway, CPA, PC is a tax planning, tax preparation, bookkeeping, accounting, and advisory firm located in Austin, Texas. We combine sound advice and an innovative approach to achieve our client’s financial, accounting, tax and business needs.

Contact us today for a discussion:
Phone: (512) 291-9955
info@jeaninecpa.com