If you’re like most high earners, you may have realized that as your income and wealth increase, so does the complexity of your taxes. No one likes to get a surprise bill at tax time, which is why strong financial management and careful planning are so important. When it comes to managing your tax liability and protecting your wealth, the key is to be proactive in your planning, not reactive. […]
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The recent passage of the Tax Cuts and Jobs Act (TCJA) increased interest in C Corporations. The Act permanently reduced the federal income tax rate on C Corporations from 35% to 21%. The widespread media coverage has led company founders, shareholders, and investors to ask whether they would benefit from being a C Corporation. There is another less publicized provision of the IRS Code that may also benefit shareholders of […]
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IRS Proposed Rules Will Substantially Increase Estate and Gift Taxes On August 2, 2016 the IRS announced proposed rule changes that may have important consequences for assets that are owned by families. If the rules are finalized in their current proposed form, they will likely go into effect in December 2016. As is explained in more detail below, it is imperative that families that are contemplating transferring assets to family […]
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