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Five Tax Strategies Retirees Should Consider Before Dec. 31

CPA Practice

A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results. The fourth quarter is for tax planning, not tax reporting. I realize that I’m in the minority in thinking that tax planning is fun. Most people understand that we have different income tax brackets.

Tax 111
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Child and dependent care tax credit 101

ThomsonReuters

The child and dependent care tax credit provides financial relief for families who pay for child or dependent care expenses. To claim the child and dependent care tax credit, taxpayers must file their Form 1040 federal income tax return using Form 2441. As such, it is important to evaluate your client’s tax filing status.

Tax 52
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2022 Year-End Tax Planning Checklist

Withum

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. Estate Tax Planning. 2022 Year-End Tax Planning Resources. million in 2023).