Despite the delays and uncertainty around exactly what tax changes final legislation will contain, there are actions that businesses can consider taking to minimize their tax liabilities, which are highlighted in this guide.
year end tax planning
It’s time for year-end tax planning – individuals should review 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations.
Consider these key state tax issues now that state and local governments are revisiting taxpayer compliance with nexus rules, considering new taxes on digital services, and evaluating the extent to which they are willing to conform to federal tax rules and legislation.
Potential strategies for individuals to reduce income tax liability through 2020 year end tax planning.