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2021 Year-End Tax Tips

Dec 16, 2021 2:44:02 PM
written by The Retirement Group

Here are some things to consider as you weigh potential tax moves between now and the end of the year for corporate employees.

1. Defer income to next year
Consider opportunities to defer income to 2022, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a year-end bonus or delay the collection of business debts, rents, and payments for services. Doing so may enable you to postpone payment of tax on the income until next year.


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posted in Tax, Year-End

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Information regarding the lump-sum payout may or may not apply to specific employees based on factors such as mergers, acquisitions, years of service, age, or the date an employee was hired.

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