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.
This year likely brought challenges and disruptions that impacted your personal and business financial situation. This year’s planning could be more challenging as you contend with the provisions of the American Rescue Plan Act from 2021 and the new Inflation Reduction Act in 2022.
Yeo & Yeo’s Year-end 2022 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 the Year-end Tax Guide, reach out to your Yeo & Yeo tax advisor, who can help narrow down the specific actions you can take and tailor a tax plan unique to your current personal and business 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.
We will continue to monitor tax changes and share information as it becomes available.