December Tax Reminders

A few reminders for December:

• December 15 – Due date for calendar-year corporations to pay the last installment of 2016 estimated income tax.
• December 31 – Deadline to complete 2016 tax-free gifts of up to $14,000 per recipient.
• December 31 – Deadline for paying expenses you want to be able to deduct on your 2016 income tax return.

The information presented is of a general nature and should not be acted upon without further details and/or professional guidance. For assistance in identifying and utilizing all the tax deductions to which you are entitled, please contact your CPA or tax preparer.