Dec. 23, 2011
What to do about year-end tax uncertainty
Procrastinating on that year-end tax plan can cost you dearly.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Much of taxes is about timing, and one of the precepts of tax planning is to defer paying tax today if you can legitimately pay it tomorrow. Traditional tax planning says you should accelerate tax deductions and defer income. But conventional tax advice also puts a premium on crunching numbers to see how you'll benefit most.
For example, taxpayers can pay their state income taxes by Dec. 31 so they can deduct them on their 2011 fed...
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