2014 Year End Planning

With the 2013 tax season behind us for most, the priority now is to start thinking about 2014. The good news for 2014 is that no major tax legislation has been passed this year, and prospects for anything passing between now and the end of the year are unlikely. The bad news is that a collection of tax provisions—some that have provided significant benefits to many taxpayers—expired as of December 31, 2013. As of this date, the House of Representatives has passed a bill to extend most of these provisions, but that legislation is still awaiting action in the Senate. The consensus is that since the election is over and no perceived political risk will be taken (or advantage given away) the Sen

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