Year-end tax planning is just around the corner, and here are tips to help you get ahead! If you have questions please give us a call right away.
Realize losses on stock while substantially preserving your investment position. There are several ways this can be done. For example, you can sell the original holding, then buy back the same securities at least 31 days later. It may be advisable for us to meet to discuss year-end trades you should consider making.
Businesses should buy machinery and equipment before year-end and, under the generally applicable "half-year convention," secure a half-year's worth of depreciation deductions in 2015.
Unless retroactively changed by legislation, property expensing is greatly reduced in 2015; making qualifying expenditures can still reap thousands of dollars in current deductions that you wouldn't otherwise receive. Beginning in 2015, the expensing limit is $25,000, and the investment-based reduction for the dollar limitation starts to take effect when property placed in service in the tax year exceeds $200,000.
Kiran enjoys building trust with her clients and exceeding their expectations in tax matters. She joined the Grimbleby Coleman team in 2015 after two years with a Bay Area firm specializing in international taxation and planning. She currently holds a Bachelor of Science in Business Administration with concentration in accounting from University of the Pacific.
Outside of the office, Kiran tutors students in elementary to college level math and English. She also spends a lot of free time enjoying the company of her friends and family, traveling, and hiking.
An interesting aside about Kiran, she spent 5 years of her life choreographing and teaching bhangra routines! For those of you who don't know, bhangra is a traditional Pubjab folk dance style. Although she no longer teaches, Kiran does love attending bhangra competitions and cultural shows.
Her favorite number? "11- for no particular reason, I've just always liked this number ever since I was a young girl."