Tax Prep, Compliance and Planning

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Maximize Your Car Donations

December 15, 2015 By BGH Staff Member Business Consulting, Tax Prep, Compliance and Planning

As another tax season approaches, taxpayers are always trying to maximize deductions. If you have an automobile that you are not currently using, you may want to consider donating it to a 501(c) (3) charitable organization.  A listing of 501(c) (3) organizations can be found on the IRS website (http://www.irs.gov/Charities-&Non-Profits/Exempt-Organizations-Select-Check). 

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2015 Year-End Tax Planning

December 15, 2015 By BGH Staff Member Tax Prep, Compliance and Planning

As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Factors that compound the challenge include turbulence in the stock market, overall economic uncertainty, and Congress’s failure to act on a number of important tax breaks that expired at the end of 2014. Some of these tax breaks ultimately may be retroactively reinstated and extended, as they were last year, but Congress may not decide the fate of these tax breaks until the very end of 2015 (or later).

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