As the end of the year is in sight, the time has come to look at year-end tax saving strategies to help minimize the tax burden you may have coming from the, unprecedented, 2020 tax year. The tax planning guide we are providing you with below will, hopefully, help you navigate through some of the tax saving options that you knew were available, inform you on some tax saving options you may have not known about and explain how the Coronavirus Aid, Relief and Economic Security (CARES) Act, Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Tax Cuts and Jobs Act (TCJA) may affect your tax situation. The TCJA may not be new like The CARES Act and The SECURE Act, but the TCJA still has a significant impact on tax planning.
After you have had the chance to examine the tax planning guide for 2020-2021, please reach out to Mitz & Rozansky, S.C. with any questions as we are all more than happy to assist.
Please note: It is extremely important that you protect your identity from people attempting to fraudulently file a tax return in your name. If you feel that some has tried to do so contact us immediately at 414-352-3200 for assistance. You should also fill out the IRS Identity Theft Affidavit which can be downloaded by clicking here.