Paying your individual income taxes likely represents one of the largest outlays of the year, but it also offers an opportunity for significant savings. Whether you have paid individual income taxes through employer withholding or quarterly estimates, thoughtful planning before the calendar turns to 2020 can reduce your total tax liability and help retain more of your earnings. If you devote substantial research and forethought to how you invest your money, then you should take a similar approach to how that income will be taxed.
Click here to access Crosslin’s 2019 Year-End Tax Planning Guide for Individuals. It is a helpful summary of what you need to know as you begin the tax preparation process. As always, the Crosslin tax team is here to assist in any way. Please give us a call at 615.320.5500 with any questions and to begin your tax preparation today.