As the old saying goes, “Nothing in life is certain except for death and taxes.” But that doesn’t mean you can’t take a bit of the sting out of having to pay your taxes with careful planning. At Taxation Solutions, Inc., we offer our clients help not only with tax problems but also with tax planning to assist you in minimizing what you owe, maximizing credits and deductions, and generally reducing your tax hassles.
For example, did you know that when you sell your home could make a difference in whether the profits are tax free? That’s because the exclusion on gain from the sale of your primary residence only comes into play if you’ve owned and lived in the house for two of the last five years. So if you’ve only owned your home for 23 months, you’re better off waiting at least a month to sell. Otherwise you’ll owe tax on all the profit from the sale of your home!
If you have tax planning questions, our team would love to help. Whether you’re interested in planning ahead for your business or you’re trying to figure out taxes as they apply to real estate purchases, Taxation Solutions, Inc. has more than 40 years of experience providing tax planning and other services. Our enrolled agents and other experts have the knowledge you need to help you optimize your tax position and ensure you’re ready when tax time inevitably comes around again.
Contact us now to learn more!