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Pass-Through Entity Taxes: Mechanics, Considerations, And Planning Opportunities For Navigating SALT Cap Workarounds

Nerd's Eye View

The 2017 Tax Cuts & Jobs Act introduced a $10,000 limit on the State And Local Tax (SALT) deduction that was previously available for taxpayers who itemized their deductions. Another set of considerations involves owners of businesses that operate in multiple states, which can compound the complexity of electing a PTET.

Taxes 214
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How Estate and Gift Taxes Can Impact Your Financial Plan

Carson Wealth

It’s a simple, human act – one that seems like it shouldn’t take too much planning to do it correctly. But when does gifting become a tax issue? What do you need to consider about gifting as it relates to your overall estate plan? Taxes on Giving??? Why do you have to pay taxes on money you’re giving away?

Taxes 96
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How Looming Tax Changes Should Influence Your Retirement Tax Planning

Covisum

In the absence of Congressional action, multiple provisions of the Tax Cut and Jobs Act (TCJA) will expire at the end of 2025, and tax rules will revert to what they were before the legislation. The TCJA reduced specific tax brackets and increased the standard deduction.

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Personal finance links: working longer

Abnormal Returns

youtube.com) Peter Lazaroff talks with Sara Gelsheimer, Senior Wealth Manager at Plancorp, about the unique planning needs for women who are primary breadwinners. humansvsretirement.com) Taxes Direct File was a success. Look for it to expand in 2025. wsj.com) How to start preparing for next year's tax season.

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9 Year-End Planning Tips from a Wealth Planner

Carson Wealth

Petersen, CPA, CFP ® , CP, Affluent Wealth Planning The holidays are upon us! That must mean it’s time to roll up my sleeves and get to work on year-end financial planning – with an emphasis on 2023 income tax. One consideration this year is that we’re two years from the expiration of the Tax Cuts and Jobs Act of 2017 (TJCA).

Planning 143
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Preparing Now for the Challenges Ahead: Guiding Clients Through Tax & Estate Planning in 2023 & 2024

NAIFA Advisor Today

Brought to you exclusively by NAIFA and the Society of FSP, this essential webinar delves deep into the time-sensitive implications of provisions in the Tax Cuts and Jobs Act (TCJA) of 2017 that are scheduled to sunset by 2025.

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Personal finance links: the myths of aging

Abnormal Returns

papers.ssrn.com) How 529 plan accounts are treated in a divorce. marketwatch.com) Estate planning Estate planning is about showing our love for our families. wealthfoundme.com) More families are at risk from estate taxes looking out into 2025 and beyond. humbledollar.com) Why QCDs can be so valuable, tax-wise.