2020 provides unique year-end tax planning opportunities for several reasons, including lower tax rates, the Secure Act passed in late 2019, and the Cares Act passed earlier this year. While we expect there to be tax code changes down the road as a result of a new presidency and legislature, it is important to stay focused on current tax planning opportunities with an eye to the future.
Potential opportunities include
Income Bracket Management:
We are including our 2020 End of Year Checklist for your review. Please feel free to reach out to us with any questions.
Jenifer Aronson is the Founder of Mosaic Fi.