Some tangible actions you can take before the end of 2012 include:
Planning Opportunities In 2012
- Review your entity structure.
- Update your wills.
- Review life insurance structure and cost.
- Link to your personal financial plan.
- Consider low AFRs.
- Know your exit strategy.
Be prepared for IRS examination.
- A coordinated examination is most efficient and will shorten the amount of time the examination will take.
- Minimize distractions and stay focused on your business
- Reduce overall costs by minimizing wasted time and professional fees or internal resources
In 2012 take advantage of expiring tax provisions.
- Review capital investment plan
- Life insurance review
- Business transition & retirement plan
- Review diversified portfolio for tax-efficient mix that changes as laws do
For more information and assistance contact Andy Cates at 206-302-6372 or Andrew.Cates@mossadams.com