2018 is the first tax year under the so-called “Tax Cuts and Jobs Act of 2017,” otherwise known as the TCJA or the “Trump Tax Cuts.” This month’s eLetter focuses on end-of-year planning in light of the TCJA. (To download the November eLetter, click here).
End of Year Tax Planning & Prep: We Can Help
As California residents, San Franciscans face many challenges and opportunities vis-a-vis the TCJA. On the one hand, the deduction for state and local income taxes has been capped, a sort of “tax penalty” for residents of high tax “Blue” states. But on the other hand, the new tax law has upped the standard deduction and lowered many tax rates. There are other nooks and crannies of the tax law that, when used wisely, can reduce one’s tax burden. As is so often the case with respect to tax laws, and especially new tax changes such as the TCJA, proper tax planning and tax preparation is essential. Read the newsletter to learn about the TCJA and get some ideas on what might hurt, or help, you. Then reach out to us as the leading tax preparation service in San Francisco, and we can work with you to optimize your tax strategy. Our aim: leverage every aspect of the TCJA to minimize your taxes!
About Safe Harbor LLP – a Professional CPA Firm in San Francisco
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service. Its goal: to be the best CPA firm in San Francisco.
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