2015 Year-End Tax Planning

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As 2015 draws to a closeyou may be giving consideration to possible year-end tax planning strategies. Taxpayers and their advisers engaged in year-end tax planning are challenged by the uncertainty of possible year-end tax legislation.

In previous years, a number of expiring provisions were extended for one or two years. However, this year, Congress has yet to act on a host of important provisions that expired at the end of 2014. Some, or all, of these expired provisions may be retroactively reinstated, thereby opening up some truly last-minute, year-end tax planning opportunities, but there’s no way of knowing if or when that will take place. Thus, constant monitoring to your year-end planning may be necessary until this situation stabilizes.

We have compiled a letter highlighting some of the year-end planning opportunities and challenges for individuals and businesses regarding federal taxes.  Our accountants understand that year-end tax planning is a complex and, at times, overwhelming task but which is also a necessity.

BMSS can help you navigate through the uncertainties of possible legislation and plan a year-end tax strategy that incorporates traditional and newer strategies to possibly help minimize your federal tax liability. Please call your BMSS trusted advisor for assistance with your year-end tax planning.

Read BMSS’ 2015 Year-End Tax Planning Letter

Sincerely,

Barfield, Murphy, Shank & Smith, LLC

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