Language:

2019-2020 Tax Planning Guide

Tax planning is as essential as ever

Last year, most of the provisions of the massive Tax Cuts and Jobs Act (TCJA) went into effect. They included small income tax rate reductions for most individual tax brackets and a substantial reduction for corporations. The TCJA also provided a large tax deduction for owners of pass-through entities, doubled the standard deduction and child credits, and significantly increased exemptions for the individual alternative minimum tax (AMT) and the estate tax.

But it wasn’t all good news for taxpayers. The TCJA also eliminated or limited many tax breaks, and much of the tax relief provided is only temporary (unless Congress acts to make it permanent).

What does this all mean? Tax planning is as essential as ever.

This guide provides an overview of the most consequential changes under the TCJA and other key tax provisions you need to be aware of. It offers a variety of strategies for minimizing your taxes in the current tax environment. As you look through the guide, please note the strategies and tax law provisions that apply to your situation or that you would like to know more about. Then contact us with any questions you may have about these or other tax matters.

At Wegner CPAs, our professionals are thoroughly familiar with the latest tax laws and tax-reduction strategies and are eager to help you take full advantage of them. So please contact us today to schedule a time to talk about ways to lighten your tax burden and better achieve your financial objectives.

2019-2020 Tax Planning GuideContents

  • Income & Deductions
  • Family & Education
  • Investing
  • Business
  • Retirement
  • Estate Planning
  • Tax Rates

VIEW THE GUIDE

Call Now Button