2015 End-of-Year Tax Planning

The unknown can be scary. What will the earned and unearned income tax rates be in 2016? What deductions and credits will be available? How will the recently introduced taxes, such as the net investment income tax, affect you? Personalizing a tax strategy is crucial each year. 2015 is no different.


Personal Income


Review timing of bonuses to minimize effect of higher maximum tax rates.

Profit Sharing Distribution

If planning distribution determine what year(s) is best to take.


Itemized Deductions


Defer large charitable contributions until 2013



Aggregate and pay bills in 2013, if possible




Business Income


Invoice clients early



Delay payment of expenses (cash basis) and purchase large ticket items in 2012


Retirement Accounts

IRA Conversion

Convert to Roth in 2012 vs 2013



Increase 2012 distribution




Capital Gains

Sell Investments

Sell investments with built-in gains (do not sell solely for tax purposes). Wash sales rules do not apply.

Sell home in 2012 vs 2013


Installment Method

Elect out of installment method to recognize full gain in 2012



Making Gifts

Consider making greater gifts in 2012 to avoid decreased exemption and increased tax rates.



Establish and make contributions in 2012