Although the year is ending soon, it's not too late to advise clients about some planning moves that can improve their tax situation for 2016 and beyond. This article reviews some actions that clients can take before December 31 to improve their overall tax picture.

Observation: Taxpayers and their advisers may still be challenged by the uncertain fate of several expiring extender provisions — ie: temporary tax rules that have a termination date specified in the Code, but have been routinely extended for a year or two. While late 2015 legislation eliminated much of the uncertainty by making many extender provisions permanent, some of them are still scheduled to expire at the end of 2016 or later. The planning moves below apply whether or not there is legislation to retroactively extend these expiring extender provisions.

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