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Lower Income = Lower Taxes

Lowering one’s income has often been a reliable way to lower your tax liability. The 20% tax reduction on qualified business income, courtesy of the Tax Cuts and Jobs Act (TCJA), phases out at certain income levels. Now that the controversy accompanying the Tax Cuts and Jobs Act (TCJA) has subsided, a new opportunity for so-called “pass-through” business has become available. We have identified five strategies that may help lessen your liability.

To see the full article click here.  To speak with us about tax-minimization ideas, please contact our Client Service Coordinator Susan at  Susan@easternplanning.com / 845-627-8300.  She will be happy to set up a convenient time so we can help.

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