Before I get into the meat of my blog post, I’ve had a few clients here around the Newtown Square, PA tax office ask me a variation on the below … so I thought I’d put a quick tax-planning idea here right at the top:
Stephen Venuti’s Seasonal Tax Advice for November 2012
Consider postponing your charitable giving until January 2013. This will increase your taxable income this year while your rates are low and decrease your taxable income next year when the rates are higher. And whichever year you do your charitable giving, gift appreciated stock whenever possible.
But please do give! And we are here to help you think through your particular situation: 610-353-0686
(And if you have involvement with a non-profit, church or other donation-driven enterprise whether around Newtown Square, PA or nationally, it’s an interesting idea for you to integrate into your end-of-year giving appeals. Your smart donors are likely thinking about this very thing, and you should understand why — and, even, contact them at the beginning of the year, and/or facilitate their giving after December 31.)
To the nub of my post here … things are slow around here this week, and it always puts me in a meditative mood. Thanksgiving is nice because it’s not quite yet the “calm before the storm” which the December holidays represent (right before tax season, as they are). This is a week when I get to gear up to provide the best tax service in the Newtown Square, PA area … but do so by looking back.
First, I’m reminded of my firm’s many blessings. For instance, I do NOT take for granted that you have chosen us to walk with you as we give you advice and help take care of your financial picture, especially around tax time. It’s hard to reveal the kind of personal information that you provide to us, and we don’t take it lightly.
And I also look back this week on the journey to get here. As anyone who runs their own business will tell you, it’s a giant leap to go out “on your own”. I still remember what it was like to take this dream I had for my firm and put it into reality. I was a little bit scared, but I was hopeful. I remember the friends and other business-owners who helped me along the way … and how risky it all seemed.
Well, the risk DID pay off, and I’m happy about what we’ve been able to create around here. Now we get to be the ones helping people pursue THEIR dreams.
For a new business owner, the first step seems really big … until the next step comes! And then you realize that running a business is a series of these decisions …you become a good risk-taker, if you stay in it for long.
But it sure helps to have somebody with a cold, clear eye to make sure you know what you’re getting into.
Which brings me to what I’m thankful for this November, as a business owner … and hopefully as your friend.
As I gather at my table with family and friends this week … I am thankful for you — and people like you. Thank you for your trust, for your business year after year … and for making my first step into starting and running a firm “way back when” so rewarding now.
And what I’m excited about as we head towards the end of 2012 … well, here’s to helping YOU keep the IRS off your back in 2013!
Looks like we’re all going to need it …
