Due to several related provisions in the TCJA, generally effective through 2025, more individuals claim the standard deduction in lieu of itemizing deductions. It has also increased the importance of planning the timing of certain itemized deductions for some taxpayers. For instance, you may want t...
If you are over age 59½ and your tax rate is low this year, you may consider taking a taxable distribution from your retirement plan even if it is not required or consider a Roth IRA conversion. For tax year 2023, individuals of at least age 70½ are allowed to make tax-free dis...
Tax-planning strategies to consider by year-end Be sure to take all your required minimum distributions (RMDs) Generally, taxpayers age 73 or older must takeminimum distributions from your tax-deferred retirement accountsby the end of the year. (Individuals who reached RMD age in 2024 have until...
Strategies Single, Divorced or Remarried Individuals Can Use to Reduce Estate Taxes Wealth Advisor Adam Yofan and a panel of divorce and estate planning attorneys discuss tax-saving options for high-net-worth individuals who expect to have complex estates to manage. ...
Tax Planning Strategies for the Self-Employed, 3rd EditionThis book provides you with more than 120 simple examples of tax planning strategies to illustrate what you can do to legitimately reduce your combined federal and state income tax and self-employment tax liability.Anthony J. Cataldo, II...
Year-end tax planning can be especially beneficial toindividuals with uneven income streams, providing the opportunity to accelerate or defer compensation. In a lower-than-usual income year, it's often prudent to review existing traditionalIRAs and former employer 401(k) plans and work with a tax...
2021 Year-End Tax Planning Strategies for Individuals Read More Insights December 6, 2021 Planning Considerations for Today’s Modern Families Read More Contacts Select the region to view contacts. All Offices California Florida Massachusetts New York ...
Today’s tax planning blends technology and business acumen to focus on consistency, compliance and the organization’s strategic objectives. Careful tax planning is critical for business success in an unpredictable global economy. Tax planning is also necessary for individuals who face their own ...
Learn how the tax planning you do today can help you save for years to come, including preparing for tax day, retirement and tax savvy giving strategies.
Updated on August 11, 2023Get Any Financial Question Answered Ask Any Question Table of Contents Advantages of Tax PlanningTax Planning StrategiesTax Planning FAQs Tax planning is the analysis of a client's overall financial situation and conditions in order to craft a financial plan that can ...