This is perhaps the best time to call your friendly CPA to discuss your unfinished business for this year and plan for the next year. Once the bell rings for the New Year, all the bets will be off the table as far as Uncle Sam is concerned.
There is still time to discuss different options so you can take advantage of them if necessary. You may want to form a retirement plan, choose a different type of investment, or to locate a real property in a growing area. It is often best to think and plan ahead rather than be late.
Jim came to a fortune toward the end of last year and waited till March to talk to his CPA to decide to spend, invest, or save the money. Unfortunately, by then, his only other option was to pay tax on the fortune (a large sum) which he could have deferred to many years later as he was only 35 years old. Sometimes a little thinking ahead and seeking timely professional advice can make a difference to your financial well-being.
If the options presented to you involve Residential or Commercial real estate matters, we can help you. Please call Faz Binesh at (510) 760-8400 to discuss the best options available.