2021 Year-End Tax Planning Letters for Businesses and Individuals

The end of the year is in sight, and as 2021 wraps with legislation still under construction, tax planning knowledge for yourself and your business will be essential for 2022. The information contained herein is based on tax proposals as presented in the November 3, 2021, version of the Build Back Better Act. Tax increases on both corporations and individuals are expected, to some extent, to pay for the cost of infrastructure improvements; the timing and content are still not finalized.

Now that tax season is nearly at our heels, it’s time to begin planning and checking the facts, as we know them, directly from the tax and financial experts at BDO. We are pleased to provide our clients with these valuable tax planning resources. However, keep in mind that this guidance is subject to change when final legislation passes.

To view the full letter for businesses, please click here.
To view the full letter for individuals, please click here.

Count on us for more news from GC as soon as it is available about the upcoming tax legislation changes. You can also find more information and keep track of the status of the tax measures under consideration by Congress on BDO’s site.

Reach out to your accountant or contact Nate Miller, CPA, nmiller@gccpas.net, with questions about this article.