Well the election appears to be over but we still don’t see a clear path to 2020 tax planning. We need to know the results of the run off elections in GA but those will only happen in January. So, as we face the last 6 weeks of 2020, we will have to play out 3 scenarios in our tax planning for this year and next.
No change to taxes, Biden’s plan comes into play or some variable in between. Hmnn. Tricky.
So, if you are thinking of buying or selling any major assets, please meet with your tax planner to play out these three scenarios as each will have different cash flow consequences. Also as you think about building out your business, hiring new team members or selling and taking a job, don’t forget to do tax and cash flow planning.
The three possible options will all greatly affect the choices we make now and into 2020.