Tax Season Preparations – Week of December 12, 2011

Time to gather information for your 2011 tax return.  With the year drawing to a close, it is time to start gathering your financial information together to prepare your 2011 tax return.

Gains, losses and other financial information.  Sometime soon, you and your tax advisor will be looking at your earned income, capital gains and losses (realized and unrealized) and other financial information as you begin to compile your 2011 return. A simultaneous review of your investment portfolio may reveal strategies you can use to reduce your tax liability. Some of these strategies may have a direct impact this year, while others may be implemented over the next several years, depending on Internal Revenue Service rules.

We can work with you and your tax advisor to conduct a thorough review of your options for both short-term and long-term investment goals. In fact, we highly recommend a coordinated tax and investment planning process.

Tax forms and instructions for filing returns.  As a reminder, the IRS no longer mails out packages of tax forms and instructions for filing paper returns. Instead, the IRS only distributes a postcard with instructions on where and how to get the forms. Electronic filing on the IRS website is free.

Strategies to strengthen your portfolio.  Let’s get together with your tax advisor to explore strategies and possibilities to strengthen your portfolio in the current market. Please contact your personal financial advisor, Jordan Dechtman, at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com at your earliest convenience to schedule an appointment. With only three weeks left in 2011, we will want to allow plenty of time to implement any changes you choose to make.