There is one important number for investors to know that can drive tax planning strategies at year-end: their marginal tax bracket.
Under a program created by the Tax Cuts and Jobs Act, investors can receive a tax break on capital gains if they invest those gains in an opportunity zone.
As the federal budget deficit rises, it is likely that investors will see taxes move higher in the future.
With tax deductions limited under tax reform, taxpayers in high-tax states may consider using incomplete non-grantor trusts to plan for state income taxes.
Now that the first tax season under tax reform is in the books, what are some tax planning considerations for the rest of the year.
Under tax reform, the federal estate tax applies to fewer estates, yet more than a dozen states have estate or inheritance taxes.
Estate planning remains an important part of financial planning and here are some considerations before the estate tax law sunsets.