Despite Senator Joe Manchin’s (D-West Virginia) recent announcement that he would not support a comprehensive version of Build Back Better, we expect Congress will advance some parts of the legislation early in 2022.
The...more
12/29/2021
/ Capital Gains ,
Corporate Structures ,
Grantor Trusts ,
Income Taxes ,
Proposed Legislation ,
Retirement ,
SALT ,
Tax Increases ,
Tax Planning ,
Valuation ,
Year-End Tax Planning
Plan focuses on eliminating certain available estate planning opportunities and increasing rates for corporations and high net worth individuals.
The proposed tax plan from House Ways and Means Committee seeks to eliminate...more
10/1/2021
/ Capital Gains Tax ,
Corporate Taxes ,
Estate Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
High Net-Worth ,
Income Taxes ,
Irrevocable Life Insurance Trusts ,
New Rules ,
Qualified Small Business Stock ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Valuation ,
Ways and Means Committee
Taking advantage of retirement account planning and charitable giving opportunities created under the new stimulus package.
Required Minimum Distributions are waived for 2020, allowing further income tax deferral until at...more
4/7/2020
/ Business Closures ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Gift Tax ,
Gift-Tax Exemption ,
Income Taxes ,
Lenders ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business
There have been a number of significant estate planning developments in 2018 which will help clients prepare for 2019.
The historically high increased exemption amounts for gift, estate and generation-skipping transfer...more
12/21/2018
/ Beneficiaries ,
Charitable Deductions ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Income Taxes ,
IRS ,
Pending Legislation ,
Proposed Rules ,
Tax Cuts and Jobs Act ,
Trusts
On New Year’s Day 2013, to avoid the so-called “fiscal cliff,” Congress passed the American Taxpayer Relief Act of 2012 (“2012 Act”). The 2012 Act raises taxes on some taxpayers while retaining most of the provisions enacted...more