|Tax planning is as essential as ever|
|To help you make the most of the tax-saving opportunities available to you, we’re pleased to introduce our online Tax Planning Guide. It offers a wide variety of strategies for minimizing your taxes. The guide covers:
• Tax Planning Basics
• Real Estate
• Business & Executive Comp
• Family & Education
• Charitable Giving
• Estate Planning
Last year, most of the provisions of the massive Tax Cuts and Jobs Act (TCJA) went into effect. They included small income tax rate reductions for most individual tax brackets and a substantial reduction for corporations. The TCJA also provided a large new tax deduction for owners of pass-through entities, doubled the standard deduction and child credits, and significantly increased exemptions for the individual alternative minimum tax (AMT) and the estate tax.
But it wasn’t all good news for taxpayers. The TCJA also eliminated or limited many tax breaks, and much of the tax relief provided is only temporary (unless Congress acts to make it permanent).
What does this all mean? Tax planning is as essential as ever.
The more you know about the TCJA’s impact and possible tax-reduction strategies, the easier it will be to determine which tax strategies will make sense for you this year, such as the best way to time income and expenses. So we invite you to look through our guide and see which strategies might benefit you. Then contact us to learn more about the most effective tax-saving strategies for your situation.