How Tax & Accounting Firms Can 

Help Clients Prepare 
For Tax Hikes

Small Business, Income, Estate & Capital Gains taxes could be going up. And a whole lot more.

While the election is still being contested, it appears Joe Biden could very well be the next President—and that means we could have some more clarity on the direction of tax policy for 2021 and beyond. This also means there are big potential tax planning opportunities for savvy tax and accounting firms who are prepared for this unique moment. 

Taxes to Be Paid

We’ve built a proactive, multi-entity, multi-year tax planning software to help you save your clients money over the next 14 months and beyond. And it was made with times like these in mind. You can:
  • Analyze thousands of tax planning strategy combinations across entities, multi-entities, and multi-year
  • ​Easily export polished tax planning proposals and deliverables that you can present to clients with a click, enabling you to work smarter and serve more clients during these uncertain times.
Inside this software, we’ve also built a comparison of current tax law versus Biden’s tax proposals to help give you all the information you need in order to build the best tax plans possible for your clients in 2020, 2021 and beyond.     

If Biden is inaugurated in January, some of your small business clients could be looking at paying 2-3 times more in taxes in the coming years. 

Here are the four major periods to keep in mind:

  • 2020 - Current Tax Law
  • 2021 - Pre-Biden Tax Law
  • ​2021 - Post-Biden Tax Law
  • 2022 - 1st or 2nd Year of Biden Tax Law
Each of these periods bring unique uncertainty and require you to help your clients make decisions that will affect their tax position.
Now is the time to prepare for this, because a tax plan that will consider these upcoming changes can save tens of thousands of dollars for many of your clients.

Corvee Tax Planning software shows you exactly how each tax planning strategy is calculated, allowing you to adjust your final inputs and select which strategies you want to recommend in your final tax plan. 

We help you calculate deductions, credits, phase outs, tax rates, and savings...so no matter how the election turns out over the coming weeks, you’ll be prepared.

Proposed Tax Hikes

Additional Proposed Biden Tax Law Changes:

  • Child Tax Credits
  • Repatriation of Profits
  • Energy Tax Incentives
  • ​Itemized Deductions
  • ​GILTI
  • ​Healthcare

Help your clients save money on taxes by using 
Corvee Tax Planning software to implement:

  • Tax planning strategies
  • Entity level planning
  • Multi-entity planning
  • ​Multi-year planning
  • ​Current tax law versus Biden’s tax proposals

Make sure your clients are covered no matter what the future holds. Request your demo of Corvee Tax Planning software today.

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Corvee, LLC, Corvee Practice Development, LLC, Corvee Advisors, LLC, and related entities are each legally separate and independent entities, which cannot obligate or bind each other in respect of third parties and with each entity liable only for its own acts and omissions and not those of each other.

Corvee has achieved positive results for its clients who have used its business development strategies and practice management tools, but the revenue figures and successes of our top clients are not typical. Because past performance is not a predictor of future success, you may have more or less success depending on many factors, including your background, experience, work ethic, client base, and market forces. Material discussed is meant for general illustration and/or informational purposes only, and it is not to be construed as investment, tax, or legal advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon when coordinated with individual professional advice. Additionally, at times we may discuss the law or new and pending legislation. Please know our understanding of it is constantly changing, and you cannot and should not rely upon us for legal, financial, or accounting advice.