Year End Tax Planning - Business

December 2016

Dear Friends and Clients,

Another year has flown by. Can you believe it? It’s December already, but there is still time for TAX PLANNING.

Look for MAJOR CHANGES in the tax structure for 2017. Experts predict lower tax rates under the new administration. Defer as much income as you can into 2017 and maximize deductions in 2016. Meanwhile, here’s my TOP TEN LIST for reducing taxes.

  1. Pay as many expenses by the end of the year as you can to lower your income.
  2. Consider purchasing equipment or vehicles before the end of the year to take advantage of Sec. 179 depreciation.
  3. Write off obsolete inventory.
  4. Write off uncollectible receivables.
  5. Consider tax deductible health care plans.
  6. Review your estimated tax situation.
  7. Review your Social Security benefit potential.
  8. Maximize your retirement plan contribution.
  9. Consider putting your children on payroll.
  10. Consider succession planning.

We are updating our electronic data base. Please e-mail us at ajmasch@fast.net with your current e-mail address if you have not already, so that we can contact you electronically in the future.

During the past year, we were able to help a lot of our clients with financial, estate and retirement planning. We also have access to discounted rates for health, life, disability and long-term care insurance. If you feel you could benefit from these services, and have not been contacted yet, please call MASCHERINO FINANCIAL, LLC at 484-734-4444.

Once again, I want to thank you for putting your trust in me and my “wonderful staff” (that’s what they call themselves), Tina, Kim, Stacey, Maryellen, Sue, Sharon, Betty and Bill. We really do appreciate it. We also want to wish you the happiest of holidays and a healthy and prosperous new year.

Very truly yours,
Anthony J. Mascherino

 
341 E. Lancaster Avenue, Downingtown, PA 19335
ajmasch@fast.net • 610-269-6833 • 610-269-7983 (Fax)
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