Nearly every area of financial planning offers strategies that can help taxpayers re-position their investments and reduce their tax liability. But many of these tax-smart ideas — involving capital gains, estate and gift planning, and the alternative minimum tax (AMT) — must be acted on by year’s end. Here are five strategies to consider. 1.
With firmly-established exemption levels for estate and gift taxes, clients have more clarity on what they can do to limit taxation of their estates. The estate and gift tax exemption is the dollar amount that an individual can transfer to heirs that is sheltered from federal estate or gift taxes. Individuals may take advantage of