Tag Archives: R.W. Ramsay

Tax Planning – A Tricky Proposition

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This time of year we start talking to our clients about tax planning, but this year things are taking a somewhat different twist.  With the November elections still to be determined, and additional parts of the Affordable Care Act going into effect in 2013, below are a couple of new things we’re thinking about this planning season.

  • Are you considering selling stocks, bonds, or investment real estate at a considerable gain?  If so, you may want to consider doing it at the end of 2012, because in 2013, you may find yourself paying an additional 3.8% tax on those gains.
  • If you own a business, are you considering a bonus for yourself?  If so, doing that in 2012 may save you from paying an additional .09% in Medicare tax which goes into effect for certain taxpayers in 2013.
  • If you’re under age 65, it may pay to push as many deductible medical expenses into 2012 as possible, as less of them will be deductible in 2012.

These are just a few of the items in the wind for the end of this year.  If you’re a client of ours, expect to see a tax planning letter with even more ideas in the coming weeks.

Giving Thanks

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The holidays seem to blur together just a bit more each year.  Still, Thanksgiving is a wonderful opportunity to take time and be thankful for what we’ve been given throughout the past year, and for the gift of family and friends.

Here are a few inspirational quotes to help spur you in your pursuit of the attitude of gratitude.

“Reflect on your present blessings- of which every man has many- not on your past misfortunes, of which all men have some.” – Charles Dickens, Writer

“I cannot tell you how to be rich. But I can tell you how to feel rich, which is far better, let me tell you firsthand, than being rich. Be grateful. It is the only totally reliable get rich quick scheme.” – Ben Stein, Actor

“Gratitude is not only the greatest of virtues, but the parent of all others.” – Cicero, Roman philosopher