What are some year-end tax planning strategies I should know?

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Have you begun your year-end tax planning process yet?

The fourth quarter is the time for proactive tax planning to lower your tax bill. For business owners, tax planning shouldn’t be a once-per-year exercise.

Tax Planning Tips

Here are six, tax-planning tips to consider before year-end.

Be proactive in your tax planning. If you expect to be in the same or lower tax bracket next year, try to defer some income from this year to next year. If you expect a higher tax bracket, accelerate income in 2022 or delay deductions until 2023.

More Tips

Don’t miss out on other tax tips. Download our new, Year-End Tax Planning Guide for business owners.