October 29, 2020 Time may be running out for high-net-worth families looking to implement advantageous estate planning strategies under current U.S. tax law as of the date of this article. We continue to see historically low interest rates1 and enjoy what many consider high gift and generation skipping transfer tax exemptions; however, interest rates, in … Continued
October 14, 2020 This year’s CARES Act exempts required annual distributions in 2020 for all IRA owners over age 70 ½, and for some people, this may create an attractive planning opportunity utilizing the Roth IRA conversion. Unlike a traditional IRA that is funded with pre-tax dollars that grow tax deferred until withdrawn (as taxable … Continued
July 20, 2020 In December 2017, Congress passed the Tax Cuts and Jobs Act (TCJA), creating a significant but temporary opportunity for high-net-worth individuals to transfer a portion of their wealth to heirs free of gift and estate tax. The act included a provision to increase the federal gift and estate tax exclusion from $5.45M … Continued
July 14, 2020 For those fortunate to have jobs that allow working remotely, the transition to working from home (WFH) during the COVID-19 shelter-in-place has been relatively seamless. Granted, those with children at home, especially small children, have graduated to an Olympic level of multitasking. But given the risk to public health, WFH life has … Continued
April 28, 2020 A GRAT may sound like a character from a Dr. Seuss book, but in reality, it is a great estate planning tool for clients with large estates who are concerned about paying gift and estate taxes. A Grantor Retained Annuity Trust, known as a GRAT, is an irrevocable trust established by an … Continued
April 28, 2020 As the COVID-19 pandemic spreads across the globe, the poorest and most vulnerable members of society are being hardest hit and most likely will be the slowest to recover. They are in need of generosity now. And, while you may already be charitably inclined, the CARES Act provides enhanced tax savings advantages … Continued
April 9, 2020 The recent and significant volatility in the capital markets has caused a lot of trouble and worry, on many fronts; not to mention our collective personal health and safety concerns. Although equity markets are down significantly from their highs just a month ago, there are various personal financial planning strategies that could … Continued
We regularly work with entrepreneurs and tech employees who benefit from Incentive Stock Options (ISOs) and also often are impacted by Alternative Minimum Tax (AMT); but the relatively new tax law from 2017 offers some important related changes to know about that could positively affect you if you choose to exercise your ISOs this year. … Continued
Tax-loss harvesting has been a major topic of conversation the past few years as strong equity returns have left portfolios with sizable unrealized gains. Opportunities to offset capital gains have presented themselves, as witnessed by last year’s severe market decline in December and the resulting frenzied activity to capture losses. While offsetting capital gains with … Continued
“In this world nothing can be said to be certain, except death and taxes,” claimed Benjamin Franklin. But at least with the latter matter, there can be different degrees of severity. Indeed, in some respects, we are generally living in a relatively benign tax environment these days but given the increasingly populist and progressive sentiments … Continued