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Tax Planning Thumbnail

Tax Planning


In light of the proposed tax law changes, Clients need to consider the short term and long term impact these proposed tax law changes would mean for them and their families. Our goal is to educate clients on the proposed tax law changes and the strategies that a client might consider implementing now to minimize the impact of these changes.

On the income tax side, we focus on potential individual income tax changes including:

  1. Increase in long term capital gains tax rate
  2. Increase in top ordinary income tax rate.
  3. Expansion of certain tax credits

On the estate planning front, we will focus on:

  1. Reduction in the Federal Estate Tax Exemption amount
  2. Potential increase in Federal estate tax rates
  3. Modification or elimination of cost basis adjustments at death
  4. Reduction in lifetime gifting rules
  5. Limitation on Dynasty Trusts (Generation Skipping Trusts)