2024 Year-End Tax Planning For Businesses
As businesses pursue transformational changes to their operational strategies, they need to consider the tax implications of those decisions from the outset. Whether you are considering supply chain shifts, pursuing M&A, planning for succession or adjusting your workforce, you need to model the tax impacts of those business decisions. Failure to consider tax in planning could result in unintended, adverse tax impacts or missed savings. This issue is at the center of a total tax mindset. Financial and accounting professionals who understand the interplay between changing laws, economic forces and the tax implications of all types of business decisions will be well positioned to act as strategic advisors and guide companies to success.
Strategic long-term tax planning remains vital for businesses aiming to reduce their overall tax liabilities and optimize cash flow. With some of the changes enacted under the Tax Cuts and Jobs Act scheduled to expire at the end of 2025, keeping up with tax developments is critical to maintaining an effective and comprehensive tax strategy. Our year-end tax planning guide identifies key tax strategies and other tax developments businesses should consider as they close out the year and revisit tax planning strategies for 2024 and beyond.
Tax planning is as essential as ever for businesses searching for ways to optimize cash flow by managing their long-term tax liabilities. The 2024 Year-End Tax Guides identify tax strategies and consider how they may be influenced by recent administrative guidance and potential legislative changes that remain under consideration.
Unless otherwise noted, the information contained in this guide is based on enacted tax laws and policies as of the publication date and is subject to change based on future legislative or tax policy changes.
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