Fall is quickly coming upon us. Soon we will all be rushing around getting ready for the fast approaching Holidays. If you have tax questions, or if something unique happened with your taxes this year, do not wait to schedule a tax consultation with me. 

Maybe you have a friend with a tax problem or one who is starting a new business. Do not forget about my referral program, please help me help your friend become successful in their new business endeavors!

Jonathan A Giegerich, CPA, MST

Items on your 2014 return can affect 2015 planning


As year-end approaches, remember to check your 2014 federal income tax return for items that can affect your 2015 planning. Here are three to look for:

Capital loss carryover. If your capital losses exceeded your capital gains in 2014, you may be able to carry any unused loss to future years. You can apply the loss against 2015 capital gains as well as up to $3,000 of other income - a benefit to remember when you're rebalancing your portfolio over the next few months.

Tip: Keep track of your capital loss carryforward for alternative minimum tax planning and projections. In some cases, this amount can be different from the carryforward calculated for your regular income tax.

Charitable contribution carryover. Was your charitable donation deduction limited for 2014 or prior years? You may have a carryover that you can use if you're going to itemize on your 2015 tax return.

Tip: Take this carryover into consideration when planning your 2015 donations so you don't lose the benefit of older unused amounts. Charitable contribution carryforwards have a five-year life.

Net operating loss carryover. If your business had a loss in 2014, you had to make an election to carry the entire loss forward to 2015. Otherwise, the general rule of carrying the net operating loss back two years applies, with the remainder carried forward 20 years.

Give me a call to schedule a tax planning appointment. I'm ready to help you get the most benefit from these and other carryovers, such as investment interest, tax credits, and passive activity losses.

Be Sure Before You Hire!

Part-time employees play a valuable role in a small business. They help deal with fluctuations in workload and can job-share with full-timers. In addition, because part-timers often look for
flexibility in hours, you may find a skilled worker whose schedule fits perfectly with existing staff.... To Continue Reading, Click Here.

Know Your Break Even Point!

Breakeven analysis is an important and useful tool in business. Whether you're starting a new business, expanding current operations, contemplating an acquisition, downsizing, or approaching banks and other potential lenders, you'll want to know your break even point. To Continue Reading, Click Here.

Taxes are becoming more and more complex. If you have a special tax situation and would like to know more about your options as a taxpayer, please call me and schedule a free consultation appointment.


Jonathan A Giegerich, MST, CPA


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