As year-end approaches, now is a good time to think about planning moves that may help lower your tax bill for this year and possibly next.
Business and personal year-end tax planning for 2020 are widely affected by the COVID-19 pandemic. New tax rules have been enacted to mitigate the pandemic’s financial impact, some of which should be considered as part of this year’s planning.
Yeo & Yeo’s Year-end 2020 Tax Guide
provides action items that may help you save tax dollars if you act before year-end. These are just some of the steps that can be taken to save taxes. Not all actions may apply in your particular situation, but you or a family member can likely benefit from many of them.
After reviewing this year’s Year-end Tax Guide, you are urged to discuss your personal and business situations with your Yeo & Yeo tax advisor. Your tax professional can help narrow down the specific actions you can take and tailor a tax plan for your current situation.
Together we can:
- Identify tax strategies and advise you on which tax-saving moves to make.
- Evaluate tax planning scenarios.
- Determine how we can help.
For other helpful tools, visit the Tax Center