Year End Tax Planning For 2020

Posted  81 Views updated 10 days ago
Sanjiv Gupta CPA will discuss various tax deduction strategies to help you reduce your taxable income in the year 2020.  We will also give you an update on various Covid related programs like PPP loans, EIDL Loans, Mortgage Forbearances, Student Loans, Rents etc.  


And lastly we will help you better prepare for 2021


Based on Biden public policies we expect individual Income Tax Rates and Capital Gain Taxes Going Up To Almost 40% plus California Tax of 13%+.  Corporations will also see an increase in tax rates - Up To 28%.


We will discuss things like removal of step up in basis, Elimination of QBI Deductions, Child Tax Credit Changes , Health Care Changes and More.


In a nutshell we will focus on things to help you reduce taxes & improve your bottom line like:


• Deductions
• Legal Entity Design
• Retirement
• Tax Cuts & Jobs Act (TCJA)
• Families First Coronavirus Response Act (FFCRA)
• Coronavirus Aid, Relief, and Economic Security Act (CARES)
• Insurance & Asset Protection
• International Income and Assets
• Asset & Gift Freeze
• Capital Gains, Stocks

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