/Tag: income tax

Tax Cut and Job Act (TCJA) Creates Many Opportunities for Year-End Planning

By |2020-04-07T22:23:34+00:00December 19th, 2018|Categories: Blog|Tags: , , , , , , |

The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions, which is a staggering thought. The good news is that these, and some of the surviving provisions, create a wealth of year-end planning opportunities. Choose the smart approach to deductions Many taxpayers who traditionally itemize their deductions might end up [...]

Year-End Tax Planning for Businesses in the New Tax Environment

By |2020-04-07T22:05:13+00:00December 19th, 2018|Categories: Blog|Tags: , , , , , |

The passage of the Tax Cuts and Jobs Act (TCJA) in late 2017 has brought significant changes to the tax landscape. As we approach the first tax season under the new law, practitioners are looking at tax planning strategies to maximize the tax benefits. Fresh opportunities The TCJA creates several new avenues of potential [...]

Income Tax Reduction Through Incomplete Nongrantor Trusts

By |2019-03-22T21:36:03+00:00December 13th, 2018|Categories: Blog|Tags: , , , , , |

With the federal gift and estate tax exemption at $11.40 million for 2019, people whose estates are below the exemption amount are shifting their focus to income tax reduction. High-income taxpayers — particularly those who live in high-income-tax states — may want to consider incomplete nongrantor trusts, which make it possible to eliminate state taxes on [...]

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