It’s that time again! Accounting Today releases its annual list… many of which are particularly smart planning techniques for tax savings.
Grant Thornton has released a collection of Year-End Tax Guides for 2016. Here are 10 of the most important 2016 tax-planning considerations for individuals.
1. Accelerate Deductions and Defer Income
2. Bunch Itemized Deductions
3. Make Up a Tax Shortfall with Increased Withholding
4. Leverage Retirement Account Tax Savings
5. Reconsider a Roth IRA Rollover
6. Get Your Charitable House in Order
7. Give Directly from an IRA
8. Zero out AMT
9. Don’t Squander Your Gift Tax Exclusion
10. Leverage Historically Low Interest Rates