Annette Di Bello, being a CPA, is always thinking about taxes and ways to minimize client's tax liability. Tax planning has never been so important! The tax code has recently been reformed adding many new provisions and eliminating others. Failure to plan accordingly may result in overpayment of taxes. Don't get caught in the complicated maze of changing tax law. Remember, working with a CPA and devising a plan to minimize your tax liability is your legal right! No one is required to pay more in taxes than the law allows.
The CARES Act was signed into law on Friday, March 27, 2020. This act has many provisions aimed to assist individuals and businesses during the Coronavirus COVID-19 shutdown.
Additionally, the IRS has extended the tax filing deadline until July 15, 2020
The Small Business Administration has multiple programs available to assist small business owners.
With the multitude of tax law changes in the recent past and more on the horizon, tax planning has never been more important and the lure of tax deferred and tax free accounts and income increasingly more beneficial.
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