Nerd's Eye View
APRIL 5, 2023
In recent years, the Internal Revenue Code (IRC) has endured some drastic changes resulting from legislative action that have altered the strategies estate planning professionals have recommended to clients. For instance, prior to the 2017 Tax Cuts and Jobs Act (TCJA), "A/B trusts" had become ubiquitous for spousal estate tax planning.
Carson Wealth
SEPTEMBER 27, 2023
For individuals, a permanent life insurance plan can play a key role in estate planning by helping reduce estate taxes. million for couples), but it will revert to its pre-2018 level of $5 million (adjusted for inflation) in 2026. Estate Taxes.” Estate & Gift Tax FAQs.”
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Abnormal Returns
MAY 8, 2023
thinkadvisor.com) The latest in advisortech news from April including the SEC's scrutiny of tax-loss harvesting systems. kitces.com) Practice management Why succession planning is important to firm owners whether they plan to sell or not. sciencedaily.com) How tax-adjusting a portfolio works in practice.
WiserAdvisor
JUNE 6, 2023
However, given the high value of wealth, it becomes all the more critical for high-net-worth individuals to plan their finances optimally. Estate planning is one of the key components of financial planning these individuals need to focus on. Business succession: Many high-net-worth individuals are business owners.
Carson Wealth
DECEMBER 8, 2023
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). AGI impacts multiple other tax considerations.
Nationwide Financial
MARCH 6, 2023
Even if a client believes they would not be subject to estate or gift tax under current law, you may want to re-examine the value of their assets to determine whether they exceed a lower exemption amount. Tax season has begun, and it’s not too early to think about planning for the 2023 tax year.
WiserAdvisor
DECEMBER 29, 2023
But estate tax can eat into this wealth and leave the next generation with a smaller nest egg. Despite having significant resources, wealthy individuals face the threat of estate taxes that can reduce the wealth intended for the next generation. It can trigger tax for the estate owner as well as the inheritor.
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