BDO USA has published an article, “Year-End Tax Planning for Individuals”, published on BDO USA. The abstract is as follows:
As we approach year end, now is the time for individuals, business owners, and family offices to review their 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations. Areas potentially impacted by proposed tax legislation still in play should be reviewed, as well as applicable opportunities and relief granted under legislation enacted during the past year.
The information contained within this article is based on tax proposals as presented in the November 3, 2021, version of the Build Back Better Act. Our guidance is subject to change when final legislation is passed. Taxpayers should consult with a trusted advisor when making tax and financial decisions regarding any of the items below.
For more information and to track the status of tax measures under consideration by Congress, see BDO’s Tax Policy Watch.
Click here to read BDO USA’s summary of “Year-End Tax Planning for Individuals.”
Posted by Bennett Mansour, Associate Editor, Wealth Strategies Journal.