Year End Tax Planning - Business

November 2022

Dear Friends,

It’s hard to believe but another year is almost gone. I hope you slowed down enough to enjoy the weather and your family, and HOW ABOUT THEM PHILLIES! I actually predicted before the season started, that they would win the World Series. However, I made the same prediction every year since I was ten years old. I have been correct twice so far. Watch out for next year.

As for taxes, no surprises here. The anticipated tax increases never happened. We still have the same list of things you can do prior to the end of the year to reduce your taxes.

  • Postpone income into next year, if possible, to reduce taxes.
  • Pay expenses before the end of the year to accelerate deductions.
  • Purchase equipment to take advantage of BONUS Depreciation.
  • Maximize your retirement contribution.
  • Write off obsolete inventory.
  • Consider putting your children on payroll.

Last year we were able to help many clients with financial, retirement, insurance, and estate planning. Give us a call to find out how we can help you. We also have over 200 clients in various retail, wholesale, and service industries. Network with us. Call if you need anything.

Remember, the IRS will never call you on the phone or email you. If someone contacts you this way, and says they are the IRS, it is most likely a scam. Hang up and call us.

Over the past year, we have upgraded our client portal. This will allow us to securely exchange documents with our clients. If you would like to work directly with us through this option, please email and she will set you up with a direct link.

Once again, I want to thank you for your continued trust in me and my “wonderful staff”, (that’s what they call themselves, I never disagree with them) Kim, Maryellen, Stacey, Phil, Julie, Nicole, Janet and Bill. We really appreciate it and never take it for granted. Have a very Merry Christmas and a prosperous New Year.

Warmest regards,
Anthony J. Mascherino

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