Give Yourself a Christmas Gift

You can give yourself a big Christmas present this holiday season if you take the time to design and implement a tax plan.

Don’t delay, if you don’t implement your plan prior to January 1, 2017 it will be too late.  Here are ten (10) year-end tax planning strategies for you to consider:

1. Accelerate your income tax deductions;
2.Postpone receipt of income;
3.Don’t buy any capital assets this year;
4.Make gifts to charities and family foundations with appreciated assets;
5.Harvest losses to offset capital gains;
6.Establish and fund qualified retirement plans;
7.Identify assets and amounts to make grantor retained annuity trust payments before April 17, 2017;
8.Make annual exclusion gifts to friends and family of up to $28,000 per married couple;
9.Make distributions of income from trust/estate accounts to lower the income tax liability; and
10.Host annual meetings for your family office, business entities and foundations.

If you would like a free consultation to discuss the design and implementation of a tax plan for you and your business please contact us today.