2023 Year-End Tax Planning for Individuals

Tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes possible over time. It’s time for individuals, business owners, and family offices to review their current tax situations to identify opportunities for reducing, deferring, or accelerating their tax obligations. This article, which is based on the U.S. federal laws and policies in effect as of the publication date, provides the information that will help you with your tax planning. You’ll find checklists and useful data on individual tax planning highlights, timing of income and deductions, tax brackets on long-term capital gains, foreign earned income exclusion, estate and gift taxes, and more.