More Ways to Address Income Tax Issues

Continuing to focus on tax-related matters as the end of the year approaches, here are a few more things to consider:

College 529 Plans:  If you have established a New York State College 529 account, remember that funding in a tax year is deductible on NYS taxes up to $10,000 for a married couple and $5,000 for an individual.  Other sates also provide tax reductions for 529 plans and you may contact our office to learn more about these.

Estimated State taxes:  Be sure to pay any estimated State taxes before the end of the calendar year in order to claim on your current tax return.