All businesses seek to reduce costs, and year-end tax planning presents the chance for significant savings that affect your bottom line. After substantial changes to the federal tax code, businesses need to ensure continued compliance with new rules and understand how to optimize their tax liability for both 2019 and 2020. Depending on the type and structure of your business, this 2019 Year-End Tax Planning for Businesses Letter can help determine the opportunities for saving on year-end and year-round taxes for the following entities:
- All businesses
- Partnerships, limited liability companies, and S corporations
- C corporations
Tax planning for businesses also entails determining how this impacts the individual owners, so we recommend reviewing the 2019 Year-End Tax Planning for Individuals Letter as well.
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