As 2017 draws to a close, the time to consider tax-saving opportunities for you and/or your business is before year-end. Individual income taxes, whether paid through employer withholding or quarterly estimates, are probably one of your largest annual expenditures. You may want to consider opportunities to reduce or defer your annual tax obligation. Also, if you own a business, some opportunities may apply regardless of whether your business is conducted as a sole proprietorship, partnership, limited liability company, S corporation, or a regular corporation. Other opportunities may apply only to a particular type of business organization. These Tax Planning Letters are intended to assist you in your individual and business tax planning efforts.
Our accountants understand that year-end tax planning may be an overwhelming task for you to undertake without assistance. Machen McChesney can assist you with a year-end plan that incorporates strategies to possibly help minimize your federal tax liability. Please call your Machen McChesney trusted advisor today if you need assistance with year-end tax planning.