2020 Year-End Tax Planning

2020 Year-End Tax Planning Update

The 2020 tax year has certainly been unique with its challenges, legislative changes, and political strife. The pandemic has added an additional layer of complexity to our typical year-end tax planning. At HBK CPAs & Consultants, we want to ensure that our clients and colleagues are aware of the many changes that have occurred over the past year, and how these changes may impact their tax situation.

Some of the changes that this year-end planning letter will address center around the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Setting Every Community Up for Retirement Enhancement (SECURE) Act, and the interaction these acts may have with the changes from the Tax Cuts and Jobs Act (TCJA) of 2017. While many questions still exist, the IRS has issued key guidance on many tax provisions that have helped provide clarity.

Download the update.

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About the Author(s)
HBK Tax Advisory Group members are seasoned tax professionals with deep experience in consulting with business owners, families and other organizations to minimize taxes while always focusing on meeting client objectives. Our tax specialists collaborate with all HBK Team Members to provide our clients with the most up to date and innovative tax planning solutions. We keep our Team Members up to date on the latest tax developments and opportunities to increase the value of our tax services.
Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.