2020 Tax Season Reminder

I can’t reiterate enough how important it is to keep our new tax reform laws in mind as we work hard throughout the year. Since most of us no longer can utilize the itemized deductions due to the increase in the standard deduction we need to think of other alternatives to reduce our tax liability.

Listed below are just a few:

• Maximize your company 401K
• Get involved with your Flex Spending Account (FSA)
• 529 plans for child’s schooling
• Maximize business expenses
• Further your education
• Of course there is always have another child/adoption