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10 year-end tax planning tips for individuals and business owners

As we get closer to year-end, many people are concerned about taxes and the possibility of having to pay higher taxes next year. In fact, in a recent survey,* higher taxes were nearly the top post-election concern (31% were concerned), second only to the spread of COVID-19 (52% concerned) and tied with COVID-19 vaccine mandate (31% concerned).

With a significant amount of federal government legislation passed this year that may have affected your taxes as an individual, family or business owner, it makes sense to understand what’s changed. While this article does not provide legal or tax advice — you should consult with your accountant or tax attorney for that — we’ve highlighted a few tips to consider as you plan for your 2020 tax return.

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