Tax planning in 2018 and 2019, in the wake of the Tax Cuts and Jobs Act, was largely a settled issue. Tax rates have been stable at a low level, meaning that there hasn’t exactly been much reason to act quickly at the end of the year to take advantage of a beneficial tax environment down the road. Of course 2020 has changed all of that, throwing Major League curveballs into what had been batting practice.
What’s Inside
- Election Uncertainty Promotes Wait and See Approach
- CARES Act Provisions Ending in 2020
- Bunching Itemized Deductions
- Possible Tax Increases in 2021