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Year-End Tax To-Do List 2019
Small business owners and entrepreneurs should consider deductions to cut your 2019 business tax bill and bonus depreciation rules under the Tax Cuts and Job Act. Here are 17 year-end tax tips from Tax Guy Bill Bischoff.
Own a small business? Here’s your year-end tax planning game plan https://www.marketwatch.com/story/own-a-small-business-heres-your-year-end-tax-planning-game-plan-2019-11-05
Establish tax-favored retirement plan
Claim 100% first-year bonus depreciation for qualified asset additions
Claim 100% bonus depreciation for heavy SUV, pickup, or van
Claim bigger first-year depreciation deductions for car, light truck or van
Cash in on generous Section 179 depreciation deductions
Property used for lodging
Qualifying real property
First-year depreciation and future tax rates
Time business income and deductions for tax savings
3 tax-planning hacks to make before the end of the year https://www.marketwatch.com/story/3-tax-planning-strategies-to-take-advantage-of-before-the-end-of-the-year-2019-10-21
Set up loved ones for 0% tax rate on investment income
Convert traditional IRAs into Roth accounts while you still can
Don’t overlook estate planning
How to cut your 2019 tax bill before it’s too late https://www.marketwatch.com/story/how-to-cut-your-2019-tax-bill-before-its-too-late-2019-10-14
Game your generous standard deduction allowance
Carefully manage gains and losses in your taxable investment accounts
If you are charitably inclined: sell loser shares and give away resulting cash; give away winner shares
Gifts to relatives
Gifts to charities
This creates a private checklist in your account.