You've Filed Your Tax Return - Now What?

by Jeff Hoots, CPA

Congratulations!  You have closed another year and fulfilled your duty to file your tax return.  What are you thinking?  Joy?  Relief?  Angry over a large balance due?  Is this the end of the story until next year.  Is it?

This could be the best time to be thinking about your tax return due next year.  Why?  Thinking now could save you dollars and problems later.  Here are some questions to consider:

• How did I do compare to last year?  Made money?   Lost money?
• How will I do next year compared to this year?  Will my income increase or decrease?
• What life changes am I making that will affect me financially?  Am I starting or expanding a business?  Downsizing?  Retiring?  
• For my personal tax return, am I adding children, or losing children to adulthood?
• What happens if I get married?
• I am newly single.  What now?

We can help!  Call Dehmel & Associates, P.C., at 317-248-2202 for more information about our tax planning services.