Last minute tax saving tips for individual taxpayers

Last minute tax saving tips for individual taxpayers

The year is quickly drawing to a close. But there’s still time to take steps to reduce your 2017 tax liability, as long as you act by December 31st.  Here are a few tried-and-true year-end tax planning tips for those who normally itemize their deductions: Pay your...
Year-end tax planning tips for accrual-basis taxpayers

Year-end tax planning tips for accrual-basis taxpayers

With the possibility that tax law changes could go into effect next year that would significantly reduce income tax rates for many businesses, 2017 may be an especially good year to accelerate deductible expenses. Why? Deductions save more tax when rates are higher....
Reduce your 2017 tax bill by buying business assets

Reduce your 2017 tax bill by buying business assets

Two valuable depreciation-related tax breaks can potentially reduce your 2017 taxes if you acquire and place in service qualifying assets by the end of the tax year. Tax reform could enhance these breaks, so you’ll want to keep an eye on legislative developments as...