It's crucial to delve into and implement these key strategies to minimize tax liabilities and maximize financial advantages before the close of the year.
Evaluate the potential benefits of adjusting accounting methods in response to the prevailing high interest rates.
Take advantage of the increased bonus depreciation available in 2023 to maximize tax benefits before the subsequent reduction in 2024.
Review your eligibility for the Employee Retention Credit (ERC) designed to aid businesses affected by COVID-19, ensuring you're maximizing this valuable tax credit.
Delve into wealth transfer strategies such as Qualified Personal Residence Trusts (QPRT) to optimize asset transfer before potential shifts in interest rates.