1. Thomson Reuters Tax & Accounting software and research solutions
  2. Solutions for Accounting Firms | Thomson Reuters Tax & Accounting
  3. Special Report: Year-End Tax Planning 2020
  4. Special Report: Year-End Tax Planning 2020

special report

Year-End Tax Planning for 2020

Year-end planning for 2020 takes place during the COVID-19 pandemic, which, in addition to its devastating health and mortality impact, has widely affected personal and business finances. New tax rules have been enacted to help mitigate the disease's financial impact, some of which should be considered part of this year's planning, most notably eliminating required retirement plan distributions and liberalized charitable deduction rules.

Clients often have pressing questions about these changes, and tax season issues could occur without adequate planning. Questions that may arise include:

  • How do the new tax rules enacted due to COVID-19 impact me?
  • What should we do or not do with assets before year end?
  • What deductions should my businesses plan for now?

Ensure you have the answers you need to these questions and more with this handy and time-sensitive special report. In it you'll get a checklist of tax planning rules that may help individual taxpayers reduce their tax liability if they act before year-end, as well as a checklist for business clients.

Ready to read more?

Fill out this form and receive access to the full special report.