With the holidays upon us, I want to be very brief related to my blogpost this month. I want to thank each of you who are clients of ours for your friendship and your patronage. We enjoy the work we do and we strive to make the services we provide very valuable to you as well. We realize that tax planning and tax return filing is not the most exciting activity for most of our clients but we feel there is some pleasure derived by managing financial and tax affairs such that money is saved and hassles are avoided.
On one tax note, the tax provision extenders that are, unfortunately, not addressed by Congress until the last minute each year, are currently being worked through this week and we should know by next week at the latest which provisions are extended into 2015 and which, if any, are not. The discussion taking place right now is that many of these tax extenders may be made permanent with this year’s iteration of the Congressional process. That would be a very welcome turn of events, indeed, as we would actually know what the tax law is for a given year before the end of that tax year. This allows for more efficient tax planning and strategy. Is it too much to ask to know the rules of the game before the game begins rather than near the end of the game each year? I think not!
We wish you and yours a Merry Christmas and a Happy New Year! Not to ruin the mood but tax filing season is just around the corner! If you have any questions, please contact us.