As 2018 winds down, business owners may still benefit from several tax savings strategies. At HBK CPAs & Consultants, we want to ensure that our clients and colleagues are aware of the many opportunities still available and applicable even this late in the year.
Year-end planning for 2018 is complicated by the various changes to the tax code under the Tax Cuts and Jobs Act (TCJA), and changes to come under new proposed regulations being announced by the IRS. These changes have begun to take shape and may drastically alter your tax position for the 2018 tax year and require alternative tax planning strategies for this tax year. These changes have significantly altered the tax landscape and require a different approach to tax planning that may not have been utilized in previous tax years. This creates opportunities for taxpayers to save significantly on their tax liabilities with some tailored tax planning solutions. Always contact your HBK Tax Advisor before implementing any of the strategies outlined in this guide. Our team is ready to assist you in evaluating each of these opportunities within the context of your unique tax position.
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