Year-End Tax Planning Tip for Cash-Method Businesses

If yours is a cash-method business,  you may want to consider deferring income to 2017. How? Simply delay invoicing so payment is not received until next year.

In addition, pay as many expenses as feasible by year-end to get the deduction in 2016. Credit card charges are considered the same as checks.

Davis & Hodgdon Associates CPAs has been assisting business owners with tax savings strategies for more than 25 years. Call our office at (802) 878-1963 in Williston, Vermont or (802) 775-7132 in Rutland, Vermont for more information and to schedule a strategy session.

We highly recommend having a year-end projection completed to ensure that you are in the best possible position for your 2016 return(s).