2021/2022 Year-End Tax Planning Letter

Click Here to Download & read our full 2021/2022 year-end tax letter

Jonni Marie Fonseca, EA & Allan Boress, CPA
2021 Year-End Tax Planning Letter

Dear Clients and Friends:

What a year it’s been! So far, we have had to cope with a global pandemic, extreme political division and a series of natural disasters—just to mention a few noteworthy occurrences. These events have complicated tax planning for individuals and small business owners.

What’s more, new legislation enacted the last couple of years has had, and will continue to have, a significant impact. First, the Coronavirus Aid, Relief, and Economic Security (CARES) Act addressed numerous issues affected by the pandemic. Following soon after, the Consolidated Appropriations Act (CAA) extended certain provisions and modified others. Finally, the American Rescue Plan Act (ARPA) opens up even more tax-saving opportunities in 2021.

And we still might not be done. New proposed legislation is currently being debated in Congress. If another new law is enacted before 2022, it may require you to revise your year-end tax planning strategies.

This is the time to assess your tax outlook for 2021. By developing a year-end plan, you can maximize the tax breaks currently on the books and avoid potential pitfalls. Keeping all that in mind, we have prepared the following 2021 Year-End Tax Letter. We challenge you to find another accounting firm that offers more ideas to have their clients save money on taxes. The letter is divided into four sections:

Executive Summary

Part 1: 19 Ideas for Immediate Tax Savings for YOU
Part 2: 14 Tax Planning and Savings Ideas for Your Business
Part 3: 7 Tax Planning and Savings Ideas for Your Investments
Part 4: 2 Warnings for Business Owners

Click Here to Download & read our full 2021/2022 year-end tax letter

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