Individual or Corporate? Choosing a Trustee
The estate planning process can be very emotional and is filled with lots of what-ifs and worst-case scenarios. One of the more important decisions in the process, and one that often does not get enough…
Three Reasons You Might Not Pay the AMT in 2018
With the first tax filing under the Tax Cuts and Job Act right around the corner, there are many changes taxpayers will be seeing in action for the first time. One thing you might not…
The Window to Gift Is Open
One of the major changes in the 2017 Tax Cuts and Jobs Act was an increase in the estate and gift exemption, which is the amount that one can gift during their life or at…
The Tax Benefit for Protecting Land
Every so often we will see a family who has land that has been in the family for generations and has great sentimental value as a result. The problem often faced by the current generation…
Impact of Tax Reform on the Nonprofit Community
The Tax Cuts and Job Act (TCJA) passed in late 2017 was the most significant tax legislation we have seen since 1986 and the impact of tax reform on the nonprofit community is expected to…
Will I Itemize Deductions in 2018?
The Tax Cut and Jobs Act included a substantial increase in the Standard Deduction that each taxpayer is able to take. For individuals it moved from $6,350 in 2017 to $12,000. For married filing joint taxpayers,…
Planning Opportunities under the New Tax Cuts and Jobs Act
In December 2017 one of the biggest tax overhauls of the past three decades passed into law. Many will benefit from lower tax rates while others will face tax increases by the substantial loss of deductions. …
Tax Planning for 2018 and Beyond: Bunching Deductions
The recent tax law changes were the most disruptive changes to the tax code in more than 30 years. The most impactful changes to personal income tax were the elimination and limitation of most major…
Deciding Between a Donor Advised Fund (DAF) and a Private Foundation
When establishing a significant charitable account, our clients will often weigh the advantages and disadvantages of opening a Donor Advised Fund (DAF) versus establishing a Private Foundation. While both vehicles provide a way for individuals…
Explaining the Social Security Earnings Test
Social Security is an excellent source of retirement income for individuals and is generally incorporated when creating a retirement plan. However, it comes with a number of limitations. One of the larger limitations is an…
