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 election of Donald Trump and Republican majorities in U.S. Congress make the future of the federal transfer tax system (gift, estate and generation-skipping transfer (GST) taxes) uncertain. President-elect Trump and...more
11/28/2016
/ Business Valuations ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Generation-Skipping Transfer ,
Gift Tax ,
Internal Revenue Code (IRC) ,
IRC Section 2704 ,
IRS ,
Repeal ,
Tax Reform ,
Transfer Taxes ,
Trump Administration
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
Welcome to the Family Office Services Group's new update series "Did You Know?" It is an easy-to-read, timely and brief focus on legal issues and developments facing you and Family Offices throughout the year. ...more