On December 22, 2017, the tax reform bill, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the Act), was signed into law, bringing sweeping changes to the U.S. Tax Code. The Act takes effect on January 1, 2018....more
12/27/2017
/ Alternative Minimum Tax ,
Charitable Donations ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Like Kind Exchanges ,
Pass-Through Entities ,
State and Local Government ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform
The federal government proposed sweeping new tax rules earlier this month that would dramatically affect family businesses, investment partnerships and other entities. These rules, which have been widely reported, would...more
8/17/2016
/ Business Succession ,
Business Valuations ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Family Limited Partnerships ,
Gift Tax ,
IRS ,
Limited Liability Company (LLC) ,
Limited Liability Partnerships ,
Partnerships ,
Transfer of Assets ,
Transfer of Interest
Creating an Irrevocable Life Insurance Trust (ILIT) can dramatically increase the liquidity of an individual’s estate and effectively leverage the value of the annual $14,000 per donee gift tax exclusion and the $5,430,000...more