Congress passed the tax reform bill that now awaits the President’s signature. We would like to share highlights along with some year-end tax planning ideas suggested by the final tax bill below and via the link provided. With just days left before the New Year, you will need to act quickly if you want to take advantage of these tax-saving opportunities.
YEAR-END TAX PLANNING OPPORTUNITIES
1) ACCELERATE CHARITABLE GIFTS INTO A SINGLE TAX YEAR
2) PRE-PAY TAXES IF POSSIBLE
3) PRE-PAY MISCELLANEOUS ITEMIZED DEDUCTIONS
4) DEFER INCOME
5) POTENTIALLY REVERSE A 2017 ROTH CONVERSION
6) CONSIDER USING THE IRA CHARITABLE ROLLOVER
For more information, please click here.
As always, our team is dedicated to preparing each client's tax return with care and professionalism, regardless of the complexity or circumstance. Please do not hesitate to contact our office with any questions or concerns.
For more information please call our office at (954) 763-9363.
Wolcott & Associates, P.A.