Wolters Kluwer CCH has released a new tax briefing document analyzing the federal tax legislation outlook along with strategies that taxpayers and businesses should consider for reducing their income taxes.

Topics in the guide, 2014 Year-end Planning, include potential short-term actions on tax breaks that expired at the end of last year and have not yet been renewed, possible post-election changes to taxes related to health insurance requirements as well as the long-term outlook on comprehensive federal tax reform.

“In addition to traditional year-end strategies, taxpayers also need to be aware of tax legislation changes on Capitol Hill that may be coming soon – particularly around extension of expired provisions, and health coverage,” said Wolters Kluwer CCH principal federal tax analyst Mark Luscombe. “Year-end planning should also identify additional income from capital gains and other sources which could lead to owing more taxes in 2015 if not addressed in the current year.”

Tax and accounting professionals looking for in-depth, year-end tax planning strategies for serving clients can also now order a new e-book, CCH Federal Tax Perspectives: 2014 Year-end Planning, along with the digital version of the 2015 U.S. Master Tax Guide. Both editions are also available in print, along with other tax resources, at the Wolters Kluwer CCH online bookstore.

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