The focus in estate planning has shifted to income taxes, including strategies for the step-up cost basis, a planning consideration to manage capital gains.
Estate planning remains important for investors despite changes under the new tax law.
The new tax law could have a significant impact on how individuals and small businesses file income taxes and make tax planning decisions.
Families with assets in custodial accounts for minors are wondering how the new tax law will impact those accounts, as changes were made to the kiddie tax.
The Internal Revenue Service recently confirmed that home equity loan interest (HELOC) may still be deductible under the new tax reform law.
An increase in the child tax credit may help families realize a tax advantage even as the personal exemption is lost.