Tax Strategies

Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead.

This notice and the expected regulations to follow could add to the movement to repeal or modify the cap.

This collection brings together the best advice from a host of experts for tax pros to share with their clients before the end of the year.

Even with just a few days remaining in 2020, a trustee can still employ tax-saving strategies.

Concerns about rising tax rates under the incoming Biden administration are a major factor.

The provision could amount to $120 billion in write-offs.

A critical PPP deduction, tax extenders, business meal deductions and more are among the critical points.

Taxpayers still have the option to calculate the actual costs of using their vehicle.

Tucked in among more than 5,000 pages of legislative text, the congressional bill providing COVID-19 relief and 2021 government funding includes dozens of tax breaks for beneficiaries ranging from downtown restaurants and the film industry to motor-sports racetracks.

Greg Engel is anticipating another year of tumultuous changes as clients deal with the coronavirus pandemic and new policies from the incoming Biden administration.