2020 Year-End Tax Planning

Tax Planning Summary
Melton & Melton’s 2020 Year-End Tax Planning Summary is now available! This planning summary highlights several potential tax-saving opportunities for individuals and businesses to consider. In particular, the letter offers information on the following topics: 
 
Individual:
  • Capital Gains
  • Income & Deductions
  • Net Investment Income Tax
  • Itemized Deductions
  • Required Maximum Distributions
  • Qualified Charitable Distributions
  • Annual Gift Tax Exclusion
 
Small Businesses:
  • Net Operating Losses
  • Qualified Business Income Deduction
  • Limitation on Business Interest Expense
  • Cash Method of Accounting
  • Accelerated Depreciation
  • De Minimis Safe Harbor Election for Materials and Supplies
  • Payroll – Year-End Bonuses
  • Charitable Contributions

CLICK HERE for the full 2020 Year-End Tax Planning Summary.