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was signed December 22, 2017 by president Donald Trump.
Coming late in the tax year, the passing of the tax law changes leaves little time to make smart tax moves before year end.
The following is a list of 7 popular tax planning moves you can make before year end and in 2018 to save money and reduce taxes. Please note that this is a general list of tax planning strategies and you should speak with our tax experts to see if you qualify for any of the following tax planning strategies.
If you have any questions please contact us and speak with one of our tax experts. 800-425-0570 or email contact@MrSmartTax.com
Written by Michael R. Arrache CPA, EA
December 23, 2017
States taxes – taxpayer is ok to pay reasonable 2017 estimated state taxes prior to end of year but consider AMT consequences and note that state taxes can still reduce NIIT.
Do not prepay 2018 state tax as it can cause penalties.
Feel free to call today with any questions. 800-425-0570 or email contact@MrSmartTax.com
