November 3, 2017

Timing strategies could become more powerful in 2017, depending on tax reform

Typically, it’s better for businesses to defer tax by deferring income to the next year and accelerating deductible expenses into the current year. These strategies could be particularly powerful if tax legislation is signed into law reflecting the “Unified Framework for Fixing Our Broken Tax Code” released by President Trump and congressional Republicans on Sept. 27. Among other things, the framework calls for reduced tax rates for corporations and flow-through entities as well as the elimination of many business deductions. Contact us for more information.