Year-End Tax Planning Considerations for Businesses and Individuals

It’s that time of year again when business owners and individuals alike are sitting down to consider which tax planning opportunities will best position them for the upcoming tax filing season. And we can all agree this is definitely a year unlike any other. Between dealing with the changing landscape of pandemic, its rippling effects on the livelihoods of millions of Americans, and a new administration preparing to take office, a lot remains uncertain.

So whether you’re a business looking to lower tax liability or an individual finding a way to increase tax savings, our tax experts have developed a few tax planning considerations for your particular situation. Click on the links below to access the one-sheet that’s right for you.

This article is not intended to outline all of the tax opportunities and considerations available to businesses and individuals. Each situation is unique and should be discussed with an accountant or financial advisor before taking any action. We are committed to bringing you the most up-to-date information as it becomes available. Please be sure to email us at taxtalk@ellinandtucker.com with any questions.