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Article: Now's Time to Reduce '94 Tax Bill
- Article from:
- THE JOURNAL RECORD
- Article date:
- November 24, 1994
- Author:
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Copyright informationCopyright 1994 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK _ How romantic to be married under the mistletoe or
to have a wedding toast on New Year's Eve _ just don't expect a
honeymoon from the Internal Revenue Service.
"If you're considering getting married during the holidays and
both of you work, you might want to postpone it until January to
avoid the marriage penalty," said Larry Scheinfeld, a partner at
KPMG Peat Marwick. "Marital status is determined on the last day
of the year."
And so is your tax bill. Although the deadline for filing '94
returns is months away, the chance to reduce what you pay the IRS
is drawing to a close.
There are still plenty of ways to lower your tax liability
before year's end, like increasing ...
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