10 Year-End Planning Tips To Slash Your 2022 Taxes | Prism Capital Management

10 Year-End Planning Tips To Slash Your 2022 Taxes

10 Year-End Planning Tips To Slash Your 2022 Taxes

Our tips are designed to make you think about how you could reduce your tax bill for 2022. They’re reminders about ways to cut your federal tax bill by December 31, 2022 in specific situations of interest to business owners, doctors, and employees in executive management as well as middle managers, teachers, and other hard-working lifelong retirement investors.

Start Thinking About Year-End Tax Planning Now

Start Thinking About Year-End Tax Planning Now

Start Thinking About Year-End Tax Planning Now

It’s only mid-September, but please begin to think about year-end tax planning. This is an unusual year for tax planning. Not only has the stock market been volatile but new rules about distributions from IRAs and federally qualified retirement plans (QRPs) – such as 401(k), 403(b) and defined benefit plans –became effective this year, and the newly-enacted Inflation Reduction Act also adds some planning opportunities.

A Key Signal Of Strength At A Pivotal Moment In Economic History

A Key Signal Of Strength At A Pivotal Moment In Economic History

It is a pivotal moment in economic history. The dust is settling from the economic shock caused by the Covid-19 pandemic. Meanwhile, the post-pandemic inflation crisis and Russia-Ukraine War linger on, creating stock market uncertainty, fueling fears of an economic downturn, and, in some quarters, of a worldwide financial disaster. So, the latest data on the service sector of the U.S. economy is indeed reassuring.