2018 Year End Planning

Year-end planning for 2018 takes place against the backdrop of a new tax law-the Tax Cuts and Jobs Act-that makes major changes in the tax rules for individuals and businesses.

We have compiled a checklist of actions that may help you save tax dollars if you act before year end. Not all actions will apply in your particular situation; however, you (or a family member will likely benefit from some of them.

Please review the following list and contact us if you have any questions.

Businesses & Business Owners:

Pass-through Income Deduction

Expensing vs. Capitalizing

Cash Accounting

Timing of Income and Expenses

Individuals:

Timing Savings

IRA Conversions

Itemized Deductions

IRAs

Estate and Gift Tax

These are just some of the year-end steps that can be taken to save taxes. Contact us at (425) 771-6055 if you have any questions.