Higher levels of personal income are taxed at higher personal rates, while lower levels are taxed at lower rates. Therefore, individuals may want to, where possible, adjust income out of high income years and into low income years. This is particularly useful if the taxpayer is expecting a large fluctuation in income, due to, for… Read more »
YEAR-END TAX PLANNING December 31, 2019 is fast approaching… see below for a list of tax planning considerations. Please contact us for further details or to discuss whether these may apply to your tax situation. SOME 2019 YEAR-END TAX PLANNING TIPS INCLUDE: 1. Keep Track of Eligible Expenditures Certain expenditures made by individuals by December… Read more »