Year End Tax Planning – Have You Done Yours?
We are about a month and a half from the end of the year. That raises a VERY important question—have you reviewed your 2018 tax liability and taken steps to minimize it?
The Tax Cuts and Jobs Act of 2017 made some significant changes to the tax code. As a whole, businesses and families will both see reductions in their tax liability in 2018. (Disclaimer – there are some that will see an increase in taxes – sorry!)
This week's message is short and to the point:
- Have you done your tax planning and taken the appropriate steps to minimize your 2018 tax liability?
If not, I would strongly encourage you to sit down with your spouse, a friend, a co-worker, your accountant, or your financial planner and see what you might want to do prior to the end of the year to capitalize on some of the changes.
Even if the answer is "nothing different," it is—in my opinion—always a good idea to have a firm grasp on what you will owe Uncle Sam.
Have a great Thanksgiving week!
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