Even though the Senate and House of Representatives have passed tax bills with a host of differences, many Americans should start to examine how they will adjust their paychecks. High-earning taxpayers cannot afford to wait and see what happens. They need to act this month before the opportunity passes them by. Accountants predict that the new code will take effect on January 1st. For those who would like to take advantage of tax benefits now, here are five strategies that you can follow.
- Pay property taxes early
- Prepay state taxes
- Make large charitable donations
- Harvest stock losses
- Don’t act hastily
If this has peaked your interest and you’d like more information on these five points, feel free to review this in-depth New York Times article to discover exactly how to approach these strategies. And as always, there’s a lot to consider when buying a home and we’re here to help. Please contact us here at San Diego at Home. We can be reached today by calling 619.356.1919. We look forward to speaking with you!