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Newsletter – Keep Your Audit Fears in Check, Five Reasons to Incorporate Your Business, & More

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Monthly Client Newsletter
June 2017
In this issue:
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This Month:
CheckJune 15th:
2nd Quarter Estimated Tax Due
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Father’s Day
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Independence Day
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There’s an old Wall Street saying, “Sell in May and go away,” advising investors to avoid the historically volatile summer markets. If you are considering selling stock this summer, you may consider donating instead as a way to lower your tax burden. Details on tax-efficient donating are inside, as well some comforting information about the declining frequency of IRS audits. Summer also tends to ignite our home buying instincts, so check out the article with tips for buying a home in this seller’s market. Finally, if you’re a business owner consider the list of reasons to incorporate.

As always, should you know of someone who may benefit from this information please feel free to forward this newsletter.

Donate Stock to Lower Your Tax Burden

1With U.S. equity valuations near historically high levels, now may be an opportune time to take advantage of the tax benefits of donating long-term appreciated stock to a qualified charity. Directly donating a winning stock you’ve held for at least one year provides greater tax benefits than writing a check to your favorite cause.

Keep Your Audit Fears in Check

Getting audited by the IRS is no fun. Fortunately, your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals some interesting, and reassuring, facts about the risk of an IRS audit.


Home Buying in a Seller’s Market

3It’s a tough time to buy a house. Nationwide U.S. house prices rose to their highest levels ever in November and have stayed elevated, according to the Case-Shiller Index tracking single-family home sales. Residential inventories also reached their lowest levels on record during the first three months of 2017, the real estate data site Trulia reported.

Five Reasons to Incorporate Your Business

Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a “sole proprietor,” in which your business profits are taxed on your personal tax return. This can serve you well to start, but there are several reasons you may want to consider incorporating as your business grows.

As always, should you have any questions or concerns regarding your situation please feel free to call.
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This email was sent by
Byron L. Riley
Certified Public Accountant
5100 Westheimer, Suite 291
Houston, TX 77056-7705
Phone: (832) 303-3995

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