To help you identify strategies that might work for you in 2021, we’re pleased to present this tax planning guide. It summarizes some of the most significant tax law changes that have gone into effect this year, and it notes some other tax law changes that have been proposed. It also provides a refresher on the extensive changes that generally went into effect three years ago under the Tax Cuts and Jobs Act (TCJA) — and their potential impact on tax planning. Finally, it shows how various strategies apply to different situations, and presents charts and case studies to illustrate some specifics of tax planning.

Understanding the ins and outs of recent tax law changes, as well as the TCJA, and determining which steps to take isn’t easy. That’s why it’s important to work with an advisor who understands their complexities and is well versed in the full range of actions you can take to save tax. We can provide the advice you need, based on our deep knowledge of tax law, including even the most recent changes, and our years of experience in helping clients like you minimize taxes.

We would welcome the opportunity to help you map out a tax plan that takes full advantage of all strategies available to you. Most tax reduction strategies must be implemented by Dec. 31 —and some even sooner. If you would like to discuss how we can help you develop a tax plan for 2021 and beyond, contact us.

Tax Guide Contents:

  • Year-to-Date Review
  • Executive Compensation
  • Investing
  • Real Estate
  • Business Ownership
  • Charitable Giving
  • Family and Education
  • Retirement
  • Estate Planning
  • Tax Rates

2021-22-LBMC-Tax-Planning-Guide

To view it, simply click on the image above to visit our Web Tax Guide, where you can learn about important tax law changes and ways to minimize your income tax liability.

LBMC tax tips are provided as an informational and educational service for clients and friends of the firm. The communication is high-level and should not be considered as legal or tax advice to take any specific action. Individuals should consult with their personal tax or legal advisors before making any tax or legal-related decisions. In addition, the information and data presented are based on sources believed to be reliable, but we do not guarantee their accuracy or completeness. The information is current as of the date indicated and is subject to change without notice.

Our Tax Team Leaders

Link to Cindy 2021-22 Tax Planning Guide for Individuals

Cindy Harper

Shareholder, Practice Leader Wealth Advisors

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phone icon email icon Nashville
Link to Art 2021-22 Tax Planning Guide for Individuals

Art Van Buren

Shareholder, Tax

phone icon email icon Nashville
phone icon email icon Nashville