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…
Upstream Gifting
With the passage of the Tax Cuts and Jobs Act, the estate and gift tax exemptions were doubled from approximately $5.6 million to $11.2 million per person. With fewer individuals facing an estate tax issue,…
Realize Your Long-Term Capital Gains and Pay $0 Tax? See if this Applies to You!
Current tax law applies a 0% long-term capital gains rate to the extent long-term capital gains fall within the bottom two tax brackets. This can be a great planning opportunity, but it is important to…
Opportunity Like No Other – Qualified Opportunity Zones
The Tax Cuts and Jobs Act of 2017 brought sweeping change across our federal tax code. Its goal of tax simplification resulted in the elimination and/or limitation of many itemized deductions that have benefited residents…
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…
A Change in Approach: Tiger Woods’ Golf Game and Roth Conversions
I recently tuned into the Valspar Championship. Tiger Woods was in the running for the winner’s purse for the first time since 2013. Some aspects of Tiger had not changed. He energized the crowd in…
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…
Tax Bill Changes Explained
After the 2016 election, many Americans wondered what the major overhaul to the US Tax Code would look like and what the tax bill changes would be. Rumors circulated that a bill would pass early…
IRS Updates – What’s on the Horizon for 2018
In 2018, the IRS will be raising many of the contribution and exclusion limits that we’ve grown accustomed to over the past few years. Two important provisions that will be increased are the 401(k) contribution…
