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Estate Planning › Tax Deductions › Tax Planning

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Allen Barron, Inc.

The Sunset of the TCJA – Tax Cuts and Jobs Act of 2017 – Is Scheduled for the End of 2025

Allen Barron, Inc. on

The sunset of the TCJA – the Tax Cuts and Jobs Act of 2017, is currently scheduled for the end of 2025.  The TCJA contributed substantial changes to the US tax code that have benefited many US taxpayers.  How should a US...more

Katten Muchin Rosenman LLP

2023 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on

We have certainly had our share of turbulent waters in the estate planning world from 2020-2022. With two significant elections, it is hard to remember a previous time with such substantial uncertainty about how tax planning...more

Allen Barron, Inc.

Estate and Tax Planning for US Expatriates

Allen Barron, Inc. on

What are the most important elements of estate and tax planning for US expatriates?  Are you planning to move out of the United States?  Are you a US taxpayer who lives and works outside of the country?  What are some of the...more

Ward and Smith, P.A.

Is Your Estate Plan Past Due for a Check-Up?

Ward and Smith, P.A. on

Estate planning professionals help clients look ahead and anticipate future contingencies. By necessity, however, estate plans are crafted based on laws and circumstances existing at the time they are put in place. This...more

Ward and Smith, P.A.

Estate Tax Panning for Married Couples: Using Estate Tax Exemptions

Ward and Smith, P.A. on

A primary goal of most married couples when contemplating basic estate planning documents is to ensure that the surviving spouse, and commonly, the couple's children and grandchildren, are supported financially. Permissible...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Trust Planning 101: Grantor Trusts - June 20th, 12:00 pm - 12:45 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on

Grantor trusts allow for tax deductions on income generated by trust assets whereas non-grantor trusts do not allow for these deductions. It is crucial for people to carefully decide which type of trust is best for their...more

A&O Shearman

2022 Year End Estate Planning Advisory

A&O Shearman on

The current estate planning landscape is drastically different than it was at the beginning of this year. After an extended period of historically low rates of interest and inflation, this year the Federal Reserve began...more

Woods Rogers

‘Tis the Season (For Charitable Giving)

Woods Rogers on

The year-end is approaching, but you still have time to work on your 2022 tax planning. Consider giving to your favorite charity to make this holiday season merry. Planned charitable giving provides you a way to maximize...more

Keating Muething & Klekamp PLL

Fall 2022 Estate Planning Update

Keating Muething & Klekamp PLL on

This Estate Planning Update reviews the newly-released estate tax exemption and gifting adjustments for 2023, the extended deadline to make a portability election, and simple ways that business owners and professionals can...more

Adler Pollock & Sheehan P.C.

Now’s the Time to Review Your Estate Plan

Adler Pollock & Sheehan P.C. on

When you first dipped your toes into estate planning, you were probably told to start with a legally valid will, above everything else. Check. Next, you may have been advised to create an estate plan that incorporates your...more

Ward and Smith, P.A.

Be Mindful of Income Tax in Estate Planning, Particularly Basis

Ward and Smith, P.A. on

Avoidance of estate taxes is one consideration in estate planning.  Under current law, however, estate tax issues generally affect only the wealthiest 1% of the population, but everyone should be mindful of income tax...more

Ward and Smith, P.A.

Make Estate Planning a Point of Focus in 2022

Ward and Smith, P.A. on

Even if your 2022 New Year's resolutions have long since gone by the wayside, as most have, now can and should be a time of renewed focus on family and self-betterment.  In the midst of economic uncertainty, geopolitical...more

Freeman Law

Grantor Trusts

Freeman Law on

Under the Internal Revenue Code’s “grantor trust” rules, the grantor of a trust may be treated as the “owner” of all or part of the trust.  As such, the grantor is taxed on the trust’s income and reports its deductions...more

Blank Rome LLP

2022 California Estate and Tax Planning Newsletter

Blank Rome LLP on

Our annual estate and tax planning newsletter discusses certain concepts and techniques that should be considered in 2022 by our clients and friends in California. Perhaps the most important recent development was the failure...more

Freeman Law

The Claim-Of-Right Deduction: Grantor Trust’s Prohibited Sale of Restricted Stock Did Not Give Rise to Relief Under Section 1341

Freeman Law on

In the recent case of Heiting v. United States, the Seventh Circuit Court of Appeals denied the taxpayer’s claim-of-right deduction pursuant to Internal Revenue Code section 1341.  The case stemmed from the taxpayer’s attempt...more

Foster Garvey PC

House of Representatives 5376: Current Tax Legislation Pending in the U.S. House of Representatives

Foster Garvey PC on

...The federal tax laws are certainly about to change. With the need to raise revenue as a top priority for the Biden Administration, everyone is expecting dramatic changes to the Internal Revenue Code. Tax legislation is...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Burns & Levinson LLP

I Don’t Have to Worry About Estate Taxes… Right?

Burns & Levinson LLP on

You do not need to be exceedingly wealthy to be impacted by the estate tax. Many of our clients are surprised to learn that tax is imposed on Massachusetts estates exceeding $1 million in value. When considering a home,...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall: You Don’t Meet the Tax Requirements For Splitting Gifts

Adler Pollock & Sheehan P.C. on

The annual gift tax exclusion is a powerful tool in the estate planning toolbox. When using your annual exclusion, you don’t owe any gift tax on amounts transferred to another person up to a specified limit. The limit is...more

Gerald Nowotny - Law Office of Gerald R....

TELL ME SOMETHING GOOD! Planning for Post-Retirement Medical Expenses with 401(h) Plans

Gerald Nowotny - Law Office of Gerald R.... on

How do I pay for post-retirement medical expenses? Your answer - 401(h) medical plans. #retirement #estateplanning #financialadvisor #payfornursinghome #medicalplans...more

Gerald Nowotny - Law Office of Gerald R....

TELL ME SOMETHING GOOD! Planning for Post-Retirement Medical Expenses With 401(h) Plans

Gerald Nowotny - Law Office of Gerald R.... on

Nowotny On Death and Taxes podcast #38 discusses 3 significant benefits of the 401(h) post-retirement medical expenses plan; Significant tax deductible contributions, tax deductible growth while in the plan and the ability to...more

Pullman & Comley, LLC

Four Key Estate Planning Issues We're Following in 2021

Pullman & Comley, LLC on

The past twelve months have demonstrated that a solid estate plan, which includes steps to protect your wealth, can help you feel better prepared and provide a sense of control during times of economic uncertainty.  As we...more

Burns & Levinson LLP

Valuing Business Interests for Gift and Estate Tax Purposes: Examining the Austen Family

Burns & Levinson LLP on

Administering an estate can be time consuming, complicated and overwhelming, particularly when there are different types of assets involved. Additionally, estate administration frequently implicates lifetime gifting by a...more

Robins Kaplan LLP

The Robins Kaplan Spotlight, Vol. 5 No. 4, Winter 2021 - The Case for Charitable Giving

Robins Kaplan LLP on

Last year brought with it several unexpected challenges due to the COVID-19 pandemic, including economic, social, and financial hardships that have left many in a position of extraordinary need. ...more

Ruder Ware

Holiday Giving: Will My Gifts Have Tax Consequences?

Ruder Ware on

The holiday season is a time of giving! With Christmas arriving next week, you might be rushing to find last minute gifts for the special people in your life. Have you considered potential tax consequences of those gifts? ...more

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