⦿ Increase Deductions: Utilize Section 179 for higher deductions on office equipment and tech.
⦿ Optimize QBI: Take advantage of the 20% deduction on qualified business income.
⦿ Boost Retirement Contributions: Maximize your tax-deferred contributions to retirement accounts.
⦿ Claim Energy Credits: Invest in energy-efficient upgrades and secure tax credits.
⦿ Accelerate Depreciation: Use cost segregation studies to enhance your depreciation deductions.
⦿ Leverage Charitable Donations: Make strategic contributions to benefit from tax deductions.
⦿ Utilize Tax-Advantaged Accounts: Reduce taxable income with HSAs and FSAs.
⦿ Explore Home Office Deductions: Claim deductions if you work from home.
⦿ Consider Income Splitting: Distribute income to lower tax brackets within your family.
⦿ Adopt Tax-Efficient Investments: Optimize your investment portfolio for tax efficiency.
⦿ Plan for Estate Taxes: Implement strategies to minimize estate taxes.
The best tax strategy this year?
Hiring professional tax and financial advisors such as RCO TAX.