The “Tax Cuts and Jobs Act of 2017” (TCJA) was signed into law on December 22nd and, while it will take some time to fully absorb its many impactful provisions, some key areas for planning clearly exist in this New Year. Probably the most significant change for many private taxpayers is the substantial expansion of … Continued
As year-end approaches, it is time to review strategic planning opportunities with your trusted advisors. As we await the outcome of the tax reform bill, it is a good time to start the dialogue and prepare to act. With that in mind, here is a list of end-of-the-year financial tasks for your consideration. Tax-Loss Harvesting … Continued
It is not unusual here in Silicon Valley for employers to offer their employees the opportunity to acquire company stock as an investment alternative in their 401(k) plans. Employees may acquire equity shares using pre-tax dollars, or even better, at no cost when shares are granted as a matching contribution. But eventually, whether because of … Continued
Earmarking the family home — or some portion of it — to fund a Charitable Remainder Trust (CRT) can satisfy philanthropic intent, reduce personal taxes, and generate long-term income. For those with certain needs and desires — coupled with the right set of circumstances and capabilities — this approach could be a better alternative than … Continued
Nonqualified Deferred Compensation (NQDC) Plans are a benefit often offered by corporations to high ranking executives, usually Directors and above. They are distinctly different from qualified retirement plans such as pensions or 401(k)s, and since NQDC plans are not widely offered, the pros and cons of participating are not widely understood. Whether to participate is … Continued
There are few opportunities that allow you to pay a tax bill now to avoid an even larger tax bill later. Tax Code Section 83(b) does just that. Put simply, Section 83(b) allows taxpayers to be taxed on equity grants, such as vesting stock awards, at the date the grant was made rather than at … Continued
In today’s world of innovation, where one idea could turn a young entrepreneur into an overnight million(billion)aire, it is becoming increasingly common for a financially successful individual to accumulate far more wealth than their living parents ever could. It is in this group of high net worth investors where a unique wealth transfer strategy may … Continued
With Republicans controlling both the White House and Congress, there is an increased likelihood of tax reform legislation hitting the debate floor. Proposals by President Trump and the House Ways and Means Committee appear to support the reduction of marginal tax rates and modification of itemized deductions which will mute the taxable benefits of gifting … Continued
Good news: It’s only March and your tax return has been filed! Bad news: It wasn’t by you. It’s a problem that is all too common these days and one that unfortunately could affect you this tax season. You try to file your tax return only to have it rejected as it has already been … Continued
In the alphabet soup of estate planning jargon, the acronym QPRT is one of the more familiar — if not fully understood — terms and it represents a popular and rather common technique for potentially passing significant wealth amongst generations using family homes with little or no gift or estate tax consequence. The letters stand … Continued