Quick Tips for end of year planning

[Openfire]

Thank you!

[New York Enrolled Agent]

FWIW - CCH has a document

http://www.cchgroup.com/media/WK/TAA/PDFs/news-and-insights/federal-tax-legislation/2014_Year-End-Planning.pdf

[Openfire]

Thank you so much. That completely makes sense. Perhaps I should ask instead some of the questions in my brain: what do you predict might change with the new administration? Do you believe the penalties (tax) for not having Health Care will be a reality for 2014, or will the republicans in office change/challenge that in time to avoid inclusion?
Will the 179 deduction stay at the current amount? What does every tax preparer wish their clients did differently?

[Roland Slugg]

It would be difficult for anyone here to offer suggestions of things to add to your list unless he knew what was already on your list.

[Openfire]

I have been asked to participate in an end of year tax planning/financial panel. I have been looking at all of the regular items usually included, but wondered if anyone had any new items I should add to the hit parade? Are there any items that are of concern that you would definitely include? I know much can change in the next few weeks with our new admin in place, but I wanted to ask the experts here for input, if you are willing.