Crowe recently issued its 2021 year-end tax planning guide to help organizations like yours navigate key provisions and changes in tax law. This resource offers an overview of important tax information in recent legislation, such as the Consolidated Appropriations Act (CAA) and the American Rescue Plan Act (ARPA).
The guide also includes deeper insights on the following topics:
- Tax rates: Income tax rates for individuals, corporations, and estates and trusts
- Income and deductions: Timing income and expenses, effects of the Tax Cuts and Jobs Act (TCJA) on timing, tax-advantaged savings for health care, smaller alternative minimum tax (AMT) threat, avoiding or reducing AMT, payroll taxes, self-employment taxes, the additional 0.9% Medicare tax, owner-employees, and estimated tax payments and withholding
- Executive compensation: Restricted stock, restrictive stock units (RSUs), incentive stock options (ISOs), nonqualified stock options (NQSOs), and nonqualified deferred compensation (NQDC) plans
- Investing: Capital gains taxes and timing, being tax-smart with losses, the wash-sale rule, mutual funds, small business stock, passive activities, income investments, 3.8% net investment income tax (NIIT) and investment interest expense
- Business ownership: Business structure, 199A deduction for pass-through businesses, retirement saving, exit planning, and sale or acquisition
Thriving in this environment means understanding the current rules, keeping abreast of potential changes, and preparing for what might come.
Nicole Bencik
Managing partner
Crowe tax
