As we approach the summer months, now is the perfect time to evaluate your company with a mid-year review. Mid-year reviews are meant to propel a company forward by pinpointing strengths, weaknesses, financial goals, help refocus employees, and get honest with where your company is at versus where you want it to go.

With year end rapidly approaching, it's time to consider making some moves that will lower your 2021 federal income tax bill— and potentially position you for future tax savings. Unfortunately, tax planning is particularly challenging this year, because the tax rules for 2022 aren't yet certain. In fact, they may not even be certain for 2021.