C Corporations: How to tackle year-end tax planning

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

How should C corporations tackle year-end tax planning amid uncertainty? As year end approaches, C corps should decide when and how to shift income and deductions between 2017 and 2018. Despite the uncertainty in tax reform proposals (nobody knows when a law might be enacted and what net effect the new rules may have), the best year-end tax planning strategy may be to follow the time-honored approach of deferring income to 2018 and accelerating deductions into this year to minimize 2017 taxes. Contact us for the best path forward in your situation.

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