Four steps you can take now to prepare for next year's taxes.
Published: November 15, 2023
In this informative 2-minute video, Jill Howe, CRPS®, Operations Manager and Registered Principal at Hall Financial Advisors, emphasizes the strategic importance of getting a jump start on 2023 taxes.
Jill provides valuable insights on proactive measures to maximize deductions, identify tax credits, and ensure accurate financial documentation. She highlights four key steps, including
- Check your withholding
- Contribute to retirement accounts
- Check your tax bracket
- Get organized
Jill underscores the significance of early tax planning to avoid missing out on vital savings and encourages viewers to include a professional in their tax strategy for personalized advice. The video concludes with contact information for Hall Financial Advisors and a disclaimer about the information presented.
The IRS has a detailed list on their website at IRS.gov of all the documents you’ll need to file your taxes. You can print this out and use it as a checklist throughout the year to make sure you stay on top of your paperwork.
1 The 2023 Forbes ranking of America’s Top Wealth Management Teams Best-In-State, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 4/1/2021 to 3/31/2022 and was released on 01/12/2023. Advisor teams that are considered must have one advisor with a minimum of seven years of experience, have been in existence as a team for at least one year, have at least 5 team members, and have been nominated by their firm. The algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 8,000 team nominations, 2,860 advisor teams received the award based on thresholds. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please see https://www.forbes.com/lists/list-directory/#470ac626b274 for more info.