It’s Year-End Tax planning time and this year has been unique!

We have seen inflation slow down and witnessed the market rebound, all while interest rates have reached highs, we have not experienced in 22 years!

What many people already know, but what some miss is the rise in interest rates alters those end-of-year tax strategies that so many have come to rely upon. These usually require business owners to reset and reevaluate their plans for closing out the calendar year.

Did you forget to plan? Are there questions that need to be answered because of the complexity of this past year?

It’s important to remember that the end goal should not be blindly pushing income into the following year or pulling expenses into the current year. We need to understand the long-term impact. The focus should ultimately be on the key strategies of business tax planning.

Although most investors and small business owners strive to implement tax planning strategies throughout the year, there are items that usually need to be considered before year-end.

As we enter the last quarter of the year, this is the time to pause and review your individual situation to ensure you’ve maximized your tax planning.

Don’t allow January 2nd to roll around and be caught doing nothing for tax optimization. If that happens, you’ll find yourself on December 20 scrambling to determine if you should either ramp up or ramp out business expenses for 2023!
Your advisor will do it all for you, and YES, we do! Especially when it comes to realized gains and losses in your investment portfolio.

Need to know more: Grab a 15-minute time slot with me to discuss Year-End Tax planning and how we can help!  

(Advisory Services offered through Red Triangle, LLC DBA Alphavest)