Tuesdays With Morey - Tax Tips®

In this episode, hosts Morey and Macarena discuss the importance of organizing your tax documents, and figuring out which deadline your taxes are due on. Morey shares an example of how he saved a client $200,000 in taxes, simply by rewriting a contract. Only experienced financial planners are able to see through the tax code and get to the possibilities. Take the advice of the Tuesdays with Morey Tax Team and start your planning today!   Key Takeaways: [1:07] Getting your tax documents organized for 2016. [1:45] 110% of last year’s taxes are due to avoid penalties. [2:50] You should have bought big items and paid bonuses by December 31st. [4:02] Buying stock has no depreciation value. [5:18] Looking ahead and planning for 2017. [6:44] You tax accountant or lawyer should be replaced if they don’t have the right knowledge. [9:40] Morey spends his weekends working on client accounts. [11:28] Investors in vacation properties should look more closely at the piece parts of their buildings. [12:22] An example of som