PODCAST: A Summary of GSG’s Annual Tax Planning Guide

Published on: 12/23/2020 By: Gorfine, Schiller & Gardyn

GSG recently released its annual tax-planning guide, which includes in depth year-end and year-round tax-saving strategies for individuals and businesses for the 2020 tax year and future years.

In a recent podcast, GSG’s Tax Principal, Tom Colegrove, highlights important points included in the guide for taxpayers to focus on this tax season.

Key highlights include:

  • Overall retirement planning strategies
  • Employer plan opportunities (i.e., Roth contributions and IRAs)
  • Changes to required minimum distributions (RMDs) pertaining to the SECURE Act and CARES Act
  • Investment strategies (i.e., planning for gains and losses)
  • The new 20% of qualified business income deduction, Section 199A
  • Timing strategies for bonus payments and bad debts
  • Retirement plan contributions with regards to 401(k), profit sharing, SEP-IRA and Simple IRA

For more information, contact us today.

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