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2022 Year-End Tax Planning Checklist

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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. For example, common states where people move to reduce state taxes are Florida, Texas, Wyoming, and Nevada.

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House Ways and Means Committee Introduces Potential Tax Extender Bill

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The Build It In America Act (HR 3938) addresses business taxpayer concerns regarding rising interest expense rates and deduction limitations on research and experimental expenditures, which could lead to drastically increased cash federal income tax payments.

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