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Lisa J. Montano CPA, PA

Certified Public Accountant

Lisa Montano's Financial Advisory Blog

It’s Not Too Late To Lower Your 2012 Taxes!

October 9th, 2012

Are you taking advantage of all available opportunities to minimize your taxes?  Are you facing major life events in the coming year that could have financial and even tax implications?  Now is a good time to discuss both those questions with me. Don’t wait until the end of the year to get your financial house in order and make the most of your chances to lower your taxes. Plan ahead now so that you are prepared financially for significant events, and so you can minimize any associated tax consequences.

No matter what the future holds, I can help with your financial and tax planning. I can offer advice on tax-advantaged ways to save for your children’s education or for your own retirement. If you’re changing jobs, selling a home or converting personal to rental property, there may also be tax or other financial concerns you should be aware of. Estate planning is another complex area where my advice can make a significant positive difference. Contact me today to talk about the best ways to lower your tax liability for 2012 and beyond and to address all your financial concerns.

News important enough to blog again!

July 3rd, 2012

Been letting my busy work schedule interfere with my journal for too long!  Recent news gave me a reason to start back.

This is not a political post, just a quick rundown of what’s coming on the tax front – making it important to rethink your investments and other planning. Obama Care is now law. In 2013, that law carries with it sizable tax increases.

Starting in 2013, if you are single and earn over 200k or married and file jointly with over 250k annual income, you will pay a 3.8% Medicare contribution surtax (because you are “rich”) on unearned income(interest, rents, dividends and capital gains). Couple this with the expiration of the Bush tax cuts – taxes on capital gains rise to 23.8%,  taxes on unearned income(dividends) rises to 43.4%.  Also, in 2013, you will pay a  Medicare surtax of .09% on your wages that exceed either the 200k or 250k limits.

Plus, the federal estate tax threshold is dropping from 5 million to 1 million in 2013, so your estate plans should be reviewed.

I suggest that you take a serious look at your investments and plans for the future.   If I can assist in anyway, please feel free to call.

Have a Happy 4th of July!

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