It’s tax season. The filing deadline to submit 2015 tax returns is Monday, April 18, 2016, rather than the traditional April 15 date. The IRS urges taxpayers to help protect against identity theft by utilizing their security safeguards, and also to take advantage of free tax preparation for those who qualify.
You may still be able to affect your 2015 taxes by making contributions to IRAs, HSAs or retirement plans, or by reversing a 2015 Roth IRA conversion if applicable. Also, now is a great time to get a handle on your 2016 estimated tax payments by projecting IRA and brokerage account distributions for the year, and estimating deductible items such as charitable gifts or planned medical expenses.
Contact Us today if we can assist you with preparing for tax season.