2020 Tax Planning
The countdown begins. Once the clock rolls us into 2020, tax season gets underway. The old calendar year, 2019, will have officially been put to rest. Deductions from your paychecks and other income sources will begin counting for the New Year. Once it’s 2020, we can celebrate and look to even better days ahead. But we dare not neglect our fiduciary obligations to the old year. In this guide, we’ll explore ways you could be affected by the 2019 changes to the tax law. Keep in mind, this guide is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your strategy. On January 1, it’ll be 104 days until April 15, 2020. That’s the deadline the Internal Revenue Service sets for tax returns. If you miss that deadline, you will face consequences.