Very possibly, yes, especially after election day. How might that affect your pocketbook and your tax planning? Will income tax rates go up? Will the gift and estate tax exemptions go down? Will some “tax loopholes” be closed? Is the IRS really more “user-friendly” now? What about those Economic Impact Payments, the Paycheck Protection Program, RMD waivers and the other changes triggered by COVID-19? Who will pay for all that, and how? Taxation and uncertainty are an eternal couple. Let’s see what the President and Congress have in store for us this year, and beyond. We will also present a collection of “Tax Tips and Traps” that you should find useful. We will discuss retirement plans, gifts/estates, investments, businesses, family situations, charitable giving, tax rates, IRS examinations, tax recordkeeping and various other such exhilarating topics. As always, we look forward to hearing your comments and questions. Being CPAs, however, we will likely begin each answer with “well, it depends …”

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