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 in 2020, check out our Online Tax Planning Guide. It features 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. Finally, it shows how various strategies apply to different situations, and presents charts and case studies to help you understand the specifics of tax planning.
Understanding the ins and outs of recent tax law changes as well as the TCJA and determining which steps to take isn’t easy. That’s why it’s important to work with an advisor who understands their complexities and is well versed in the full range of actions you can take to save tax. We can provide the advice you need, based on our deep knowledge of tax law, including even the most recent changes, and our years of experience in helping clients like you minimize taxes.
We would welcome the opportunity to help you map out a tax plan that takes full advantage of all strategies available to you. Most tax reduction strategies must be implemented by Dec. 31 —and some even earlier. So please contact us at your earliest convenience to discuss how we can help you develop a tax plan for 2020 and beyond.
