End-of-Year Tax Planning Tips for 2022 (And Beyond)

Published on: 12/15/2022 By: Gorfine, Schiller & Gardyn

Joe Liberman, Director, and Patrick Hom, Director of Tax Services, provide annual tax planning tips for individuals and businesses.

GSG recently published its annual tax planning guide, which includes year-end and year-round tax-saving strategies for individuals and businesses for the 2022 tax year and future years.

This year’s tax planning guide provides insights into new tax changes as a result of the lingering pandemic and the passage of the Inflation Reduction Act. In this interview, both Joe and Pat provide a wide-range of tax planning ideas around everything from charitable giving to IRA contributions, maximizing 401(k) contributions, taking losses on capital gains, and more.

Here are the key highlights from this interview:

  • Why year-end tax planning is important. (:40)
  • Typical year-to-year tax changes for individuals. (1:15)
  • Overall tax planning ideas for 2022 and beyond. (2:24)
  • Tax planning ideas and strategies for businesses. (5:25)
  • The impact of the Inflation Reduction Act, and other energy and electric vehicle provisions. (7:07)
  • How business interest expense may be further limited starting in 2022. (11:12)
  • Why having a tax preparer you can trust is important. (12:19)
  • How GSG can help. (13:07)

For more tax planning tips: click here to download the full GSG 2022 Year-End Year-Round Tax Planning Guide.

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