Tax Advisor Barry G. Fowler, Suggests Project for a Lazy Hazy Summer Day to Prepare for 2015 Tax Season
Barry G. Fowler, EA, leading expert in tax resolution issues and CEO of Taxation Solutions, offers a summer tax guide to help take advantage of tax breaks and make adjustments that will positively affect tax status at the end of the year.
Houston, TX – July 27, 2015 – Barry G. Fowler, CEO of Taxation Solutions, posted a new article entitled “A Midsummer Tax Review” in which he offers tips on preparing for a smooth 2015 tax season.
Fowler writes, “Here we are mid-July. The year is a little more than halfway behind us.” He continues adding, “I always suggest this midsummer time to take about an hour to review your finances and tax situation to prevent any surprises at the end of the year.”
Busy lives tend to overshadow anything that has to do with the taxman. And, as Fowler states, “So many life circumstances can trigger a change in tax status. For instance getting a promotion with a pay increase, changing jobs or losing a job. In addition, getting married, getting a divorce or the death of a loved one can have an effect on your taxes.” He continues, “If you are sending a child off to college, there are financial considerations that should be made now that can give you a tax break.”
According to Fowler, “If you spent time looking for a job during the first half of the year and are now employed, some of your expenses during your job hunt could be tax deductible.” However, he advises, “The important thing to remember is that the search must have been for a job in your current occupation, not for something in a new field. And, if you traveled to a different part of the country for your search, some of the travel expenses might also be deductible. Likewise, employment and outplacement agency fees may be deducted if you search was for work in your field.”
College bound kids can give you a tax break too, as Fowler explains, “If you have a child entering college and have been contributing to a 529 savings plan, now is the time to withdraw funds tax-free to buy a computer, computer accessories and to pay for Internet access if applicable for the 2015-16 school year. Some schools provide free wireless access.”
Fowler adds, “So use these lazy hazy summer days to get a jumpstart on your taxes. It will feel really good when you get to the end of the year and realize you’ve gotten yourself organized and are ready for the taxman earlier than usual.”
The entire article can be read at https://www.taxationsolutions.net/a-midsummer-tax-review/
About Barry G. Fowler, EA
Barry G. Fowler founded Taxation Solutions out of a genuine concern for the IRS issues his clients face, many of whom are self-employed, contract employees, or entrepreneurs. For his contributions to his profession and expertise in tax resolution and financial planning, Fowler has been featured as one of America’s Trendsetters on CBS and Yahoo, and as a Premier Expert in Inc. Magazine. He has been instrumental in helping hundreds of people resolve complex tax issues with the IRS.
Fowler is licensed to represent taxpayers before the Internal Revenue Service, and is a longstanding member of several tax industry professional organizations: NAEA, NATP, TSEA, ASTPS.