With only a few weeks left in 2019, it is time to make sure that you take advantage of legal ways to reduce your tax liability for the year that might be available to you. Many year-end financial decisions--for both individuals and business owners--have tax implications which can help or hurt you. Here are just a few examples:
- Equipment purchases
- Funding retirement plans
- Bonus payments to employees
- Selling off old inventory
- Selling off stocks or other investments
- Charitable contributions
These are just some of the things that, if done before the end of the year, could change your tax liability--in some cases significantly. If you have questions specific to your situation, contact us with your questions.