2021 Year-End Tax Planning Guides

As we begin to prepare for year-end, we recognize that 2021 was another one for the record books. A continued global pandemic, large-scale federal legislation inclusive of stimulus checks, infrastructure investments, and numerous tax changes, not to mention inflation and supply chain issues… it’s nearly impossible to list all the events that have likely impacted your personal and business finances.

With so much uncertainty and more tax changes likely on the horizon, now is the time to review your current tax strategies and consider whether they still meet your needs. You may have opportunities to accelerate or defer income or deductions. Proactivity is a must.

To help you get started, our tax experts have compiled some of the more noteworthy changes and biggest considerations you need to know in our year-end tax planning guides.

INDIVIDUAL YEAR-END TAX PLANNING GUIDE

BUSINESS YEAR-END TAX PLANNING GUIDE

Need Tax Planning Assistance?
The team at Maner is here to help you take a fresh look at your tax strategies to ensure they are inclusive of every potential consideration and you’re well-positioned heading into 2022. If you have questions or could use some support, contact our team at (517) 323-7500 or via email at maner@manercpa.com.

The year-end tax-planning special report is based on the prevailing federal tax laws, rules and regulations. Of course, it is subject to change, especially if major tax reform provisions are enacted before the end of the year. Be aware that the tax-planning concepts discussed within this letter are intended only to provide an overview. It is recommended that you review your situation with a tax professional.