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Year-End Tax Planning

Year-End Tax Planning refers to the process of structuring assets to ensure an individual or entity receives the most favorable tax treatment under the law. Some aspects of Year-End Tax Planning include... more +
Year-End Tax Planning refers to the process of structuring assets to ensure an individual or entity receives the most favorable tax treatment under the law. Some aspects of Year-End Tax Planning include strategies to maximize deductions, defer income to a future date, take advantage of current laws before they expire at year's end, and establish certain types of specialized trusts, to name a few.  less -

Tax planning in the age of tax reform

On December 22, 2017, the President signed into law the Tax Cuts and Jobs Act (the TCJA), the most substantial overhaul of the Internal Revenue Code since 1986. The TCJA significantly changes how the US taxes individuals,...more

Tax Reform: The Five Big Changes Affecting Employee Benefits

by Dickinson Wright on

On December 22, 2017, President Trump signed H.R. 1 (formerly, the “Tax Cuts and Jobs Act” (the “Act”)) into law. While the Act was primarily focused on business tax cuts and individual tax reform, the Act includes several...more

2017 Year-End Tax Planning in Light of Tax Reform

by Burr & Forman on

What a week for U.S. tax law! Last Friday, three days before the deadline he had set for himself and Congress, President Donald Trump put his signature to the Tax Cuts and Jobs Act of 2017 (“TCJA” or the “Act”), which enacts...more

Tax Reform Summary for Family Offices

by Shearman & Sterling LLP on

On December 20, 2017, Congress passed the “Tax Cut and Jobs Act,” which was signed into law by President Trump on December 22, 2017. With some exceptions, the law’s provisions generally are effective for tax years beginning...more

Private Client & Trust Tax Reform Advisory

by Goulston & Storrs PC on

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States income tax regimes for individuals and businesses and...more

How Much Should You Give to a Charity: Or is There a Formula For Determining How Much You Should Give vs How Much You Can Afford

by Moskowitz LLP on

This answer is something that an attorney often says to a client: “it depends”. This is a highly personal decision that can encompass many factors. The personal and or religious beliefs of the person and their spouse. How...more

Warning!!! Pre-paid State and Local Taxes are NOT DEDUCTIBLE in 2017 If they are due in 2018!

by Sanford Millar on

Assuming that the Tax Cuts and Jobs Act (“TCJA”) passes both Houses of Congress and is signed by the president, there will be monumental changes in the Internal Revenue Code on the individual and corporate tax levels....more

Consider These Year-End Strategies to Address Proposed Tax Changes

by Varnum LLP on

Recently, the House and the Senate passed bills that could create major changes to our current tax laws. They are now working to reconcile the bills, with the goal of having the legislation signed by December 25. If...more

Creating Impact with Your Year-End Charitable Giving

by Ropes & Gray LLP on

With the end of the year right around the corner and potential tax changes looming, now is the time to focus on your charitable giving. You want your donations to make a positive impact, to make a difference in whatever area...more

Tax planning for private corporations and their shareholders - converting income into capital gains

by Dentons on

On October 19, 2017, the Department of Finance Canada issued a news release advising that it will not move ahead with proposed measures intended to target the conversion of income into capital gains. The announcement is the...more

Unified Credit for Estates & Annual Exclusions for Gifts Increased for 2018

by Tucker Arensberg, P.C. on

The IRS announced that the Unified Credit for Estates and Annual Exclusion for Gifts will be higher in 2018. Unified Credit Against Estate Tax. For an estate of any decedent dying in calendar year 2018, the basic...more

Time to Prepare for the End of the Year - Part Two

by Poyner Spruill LLP on

The end of the year is rapidly approaching! To avoid costly penalties that can arise from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by...more

Department of Revenue Issues Favorable Ruling for Tax Credit Scholarship Donors - State & Local Tax Alert: Alabama Edition

Since the landmark Alabama Accountability Act was enacted in 2013, allowing individual and corporate donors to provide scholarship funds for underprivileged children in our state who are zoned for underperforming public...more

Executive Compensation Alert: IRS Filing and Reporting Requirements for ISO Exercises and ESPP Stock Transfers

by Fenwick & West LLP on

This Client Alert is intended to remind you of certain year-end reporting requirements under Section 6039 of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to stock issued to employees (or former...more

Deadline Approaching for Reporting 2016 ISO Exercises and ESPP Transfers

by Goodwin on

Section 6039 of the Internal Revenue Code requires corporations to provide information statements to employees (including former employees) and information filings to the IRS regarding exercises of incentive stock options...more

2016 Year-End Trusts & Estates Update

As 2016 comes to a close, we would like to share with you a number of recent developments affecting trust and estate planning that may be of interest: Final regulations restricting valuation discounts unlikely to be...more

Year End Gifting

by Farrell Fritz, P.C. on

Each December I usually write about year-end gifting, as now is the time that many people think about gifting to loved ones, especially with the holidays upon us. In addition to making you, as well as the beneficiary of your...more

Year End Tax Planning 2016

Proper year-end planning can help alleviate any unnecessary tax burden. While little happened in the way of tax legislation in 2016, there are certain tax breaks from which you may benefit and certain strategies that can be...more

Personal Tax and Estate Planning Considerations for the End of 2016

The end of the year is always a good time for our clients to look at their personal tax and estate planning situation and consider whether to take any action before Dec. 31. This year, with the Trump administration about to...more

Year-End Tax Planning with Tax Credit-Funded Scholarships

The Alabama Accountability Act provides state income tax credits to certain donors who make contributions to a state-approved scholarship granting organization (SGO). Alabama’s neediest school children can be helped at little...more

Renewed Perils from “Zeroing Out” a Corporation at Year-End

by Dickinson Wright on

Physicians who are involved in the financial management of their practices are all too familiar with the year-end scramble to “zero out” the corporation’s profits. Under this technique, a physician practice that is structured...more

Healthcare Legal News: Volume 6, Number 2

by Dickinson Wright on

Restrictions on Fees Permitted under HIPAA for Copies of Medical Records - When health care providers provide copies of medical records to an individual patient or to third parties at the direction of that individual...more

Alert: Year-End Reporting for ISOs and ESPPs

by Cooley LLP on

This alert serves as a reminder of certain year-end reporting requirements imposed under Section 6039 of the Internal Revenue Code of 1986, as amended, with respect to incentive stock option exercises and transfers of stock...more

Congress and the President Find Their Way Along a PATH

by Pessin Katz Law, P.A. on

As previously reported in the PK Law Newsletter, tax planning for the end of 2015 was hampered by the expiration of a number of “temporary” tax provisions routinely extended for a one or two year period by Congress. Congress...more

To Do: Year-End Gifting. Check (or not)

by Bryan Cave on

With the end of the year approaching, we thought now would be a good time to re-post and update this blog from the end of 2014. For 2016, the annual exclusion gift amount will remain the same at $14,000 but the lifetime...more

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