Although you can’t avoid taxes, you can take steps to minimize them. This requires proactive tax planning — estimating your tax liability, looking for ways to reduce it and taking timely action.

To help you identify strategies that might work for you, we’re pleased to present this tax planning guide. It features many “What’s new!” sidebars summarizing some of the most significant tax law changes that have gone into effect this year, including relief to help taxpayers during the COVID-19 crisis.  It also provides a refresher on the extensive changes that generally went into effect two years ago under the Tax Cuts and Jobs Act (TCJA) — and their potential impact on tax planning.

Understanding the ins and outs of recent tax law changes as well as the the TCJA and determining which steps to take isn’t easy. That’s why it’s important to work with an advisor who understands its complexities and is familiar with all the ways you can save tax.

We can provide the advice you need. Most tax reduction strategies must be implemented by Dec. 31— and some earlier. So please contact us at your earliest convenience to discuss how we can help you develop a tax plan for 2020 and beyond.

 

Click her to view the 2020-2021 Tax Planning Guide