Tax Advice


vero beach forensic accountant, vero beach business development CPAWith so many changes every year on income tax filing and regulations, it can be beneficial to have a professional who has your back with the IRS.  DiSalvo and company is here to help with your year end planning and to get you ready for next year. Let us take the confusion out of this important time for you.

According to the National Society of Accountants these are several key elements that need to be considered.

  1. “Keep an eye on AGI: Since some tax benefits — including itemized deductions. personal exemptions, and education and adoption credits — get phased out depending on a taxpayer’s adjusted gross income, deferring income may also make sense depending on their current AGI.
  1. Max out retirement accounts: If a taxpayer’s employer offers matching, then maxing out contributions to a 401(k) is as close to a no-brainer as you can get – but even without matching, sequestering income in 401(ks), IRAs, Keoghs and the like is still a great deal.
  1. Tax-loss harvesting: Even in the current bull market, a portfolio can contain some duds – but they can still be useful! Taxpayers with large amounts of taxable gains in 2016 may want to offset some of those by realizing losses on those duds to lower their overall capital gains exposure.
  1. Be careful with mutual funds: Many mutual funds make capital gains distributions in December, so taxpayers will want to bear that in mind when buying or selling. That a fund is or isn’t planning a major distribution needn’t necessarily be a deal-breaker – but it may add to the eventual tax bill.”

Tax preparation is our area of expertise. We also help businesses build a plan for their companies success in a new year.

Pete DiSalvo

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

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