During these unprecedented times, wise tax planning can provide much-needed financial relief to individuals and businesses. To help you make the most of the tax-saving opportunities available to you, we’re pleased to share our online Tax Planning Guide--offering a wide variety of strategies to minimize your taxes. This guide covers:
- Tax Planning Basics
- Real Estate
- Business and Executive Compensation
- Family and Education
- Charitable Giving
- Estate Planning
To take advantage of all available breaks, you need to be aware of some major changes under this year’s Coronavirus Aid, Relief and Economic Security (CARES) Act and last year’s Setting Every Community Up for Retirement Enhancement (SECURE) Act. You also can’t forget about the massive Tax Cuts and Jobs Act (TCJA) that generally went into effect two years ago but still impacts tax planning. Plus, it’s possible that there could be more tax law changes before year end.
The more you know about these changes 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.
Contact us to learn more about the most effective tax-saving strategies for your situation.
The presidential and congressional election results could usher in major changes in tax policy. Stay tuned for more from Friedman as we closely monitor the situation.