Planning Guides for Individuals & Businesses

As we approach year-end, now is the time for individuals, business owners, and family offices to review their 2023 and 2024 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations. With inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while optimizing tax strategy for the road ahead.


Businesses should also review their tax strategies and planning considerations across a range of areas with the help of additional tax planning guides for 2023 (available below):

Carefully examining tax accounting methods can present opportunities to realize tax savings and bolster cash flows. Meanwhile, some businesses may still be eligible for valuable payroll tax relief under the CARES Act’s Employee Retention Credit. Corporations, in particular, face unique tax rules around M&A, deductions, stock buybacks, and more, which warrant advance tax planning. Specialized tax guidance is especially prudent when dealing with financial transactions and instruments to avoid negative consequences.

Reviewing the new SECURE 2.0 act could reveal helpful provisions around retirement plan administration, as well. State and local taxes remain complex, so itemizing discrete planning considerations for the thousands of relevant jurisdictions is critical to minimize compliance burdens in 2024. Real estate businesses specifically need to assess how the latest tax legislation might alter deal structures. And, more broadly, revisiting income tax frameworks, preparing for the OECD’s sweeping global minimum corporate tax, and bracing for increased IRS partnership audits should anchor most 2023 year-end planning.


Don’t know where to start? Need tax advice?

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REDW Tax Services

Tap into smart tax management

Managing your taxes with expert guidance can generate the backing your cash flow may need expanding a service, making investments in technology, or hiring the team members you need. True, complying with tax rules and regulations is a responsibility, but it’s also an opportunity to minimize your tax burden and maximize business growth, equity and cash flow.

From preparing tax returns and quarterly estimates to strategic year-end tax planning and projections, REDW’s tax advisors are skilled at helping mid-level businesses and closely held multistate and international companies, entrepreneurs, family groups, and trustees of trusts and estates optimize their finances through smart tax management.

Special Industry Expertise

REDW’s tax professionals are especially well-versed in tax compliance rules, credits, and incentives as they apply to the following industries:

  • Construction & Real Estate
  • Professional Services (architects, attorneys, engineers, physicians)
  • Technology
  • Auto Dealerships
  • Gaming, Hospitality & Leisure
  • Wholesale & Retail

Serving Tribal Nations

REDW provides tax preparation (Form 990 and 990T) as part of a comprehensive offering, expressly for tribes, of nonprofit and other tax consulting services. We guide your organization through these complex forms, with an emphasis on compliance with rules that govern exempt organizations – such as establishing and adhering to sound policies and best practices, and how to involve Boards of Directors and Audit Committees in supporting proper governance.

Our Services

  • State and Local Tax
  • Tax Planning & Projections
  • Accounting Methods
  • Opportunity Zone
  • Estate, Trust, and Gift Tax Return and Planning
  • Individual, Corporate, and Partnership Returns
  • Nonprofit Tax Returns
  • Sales & Use Tax Compliance

Additional, Specialized Services

  • Business Formation / Entity Selection
  • Buy-versus-Lease Analysis
  • Change of Accounting Methods
  • Cost Segregation Studies
  • Last In, First Out (LIFO) inventories
  • Representation before IRS & other taxing authorities
  • Transaction Analysis

Tax & Legal Disclaimer

The information contained within this guide is provided for informational purposes only, should not be relied upon as tax, legal, or accounting advice, and is based on federal laws and policies in effect as of December 5, 2023. Taxpayers should consult with a trusted tax, legal, or accounting advisor when making tax and financial decisions regarding any of the items discussed in this guide.