Three estate planning strategies for 2021
Investors may want to consider estate planning strategies as tax provisions impacting federal gift and estate taxes will sunset after 2025.
Investors may want to consider estate planning strategies as tax provisions impacting federal gift and estate taxes will sunset after 2025.
In 2020, more taxpayers may be able to take tax deductions on their charitable giving as a result of provisions in the CARES Act.
The need for additional government revenue will pressure lawmakers to raise tax rates in the future.
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.
The Treasury and Internal Revenue service recently finalized the rules for claiming the small business deduction, introduced by the Tax Cuts and Jobs Act.
Tax reform resulted in broad-based changes to the tax code as well as changes to the Form 1040 and other tax forms.
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.