Category Archive for: ‘Taxes’

New Year, New Tax Law

On December 22, 2017, President Trump signed the new tax law, entitled “The Tax Cuts and Jobs Act” – a summary of which is provided below by PRW’s Estate and Wealth Management Counsel Janice A. Forgays, Esq., CLU: New Year, New Tax Law  

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Identifying and Reducing Tax Regulatory Burdens

Per its Second Report to the President on Identifying and Reducing Tax Regulatory Burdens, Treasury, with the IRS, has decided to withdraw the proposed regulations under IRC §2704 in their entirety. These proposed regulations were designed to eliminate “artificial” valuation discounts for intra-family transfers of interests in family-controlled entities (FCEs) by disregarding any restriction on an owner’s ability to liquidate …

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Tax Reform Update – September 2017

Congress returned to Washington last week with a number of legislative priorities to address by September 30th. Two of the biggest were raising the federal debt limit and passing a bill to keep the federal government funded. Please click on the following link for a tax reform update provided by AALU: AALU Tax Reform Update – September 2017     …

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The Estate Tax May Come and Go (and come back again) But Estate Planning is Here to Stay

Will estate taxes be reduced or eliminated in the near future? No one knows for sure. What we do know is that a change in the estate tax does not change the need for comprehensive estate planning. Please follow the link below for an estate planning article from PRW’s Estate and Wealth Management Counsel, Janice Forgays, JD, CLU. The Estate …

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Ten Year-End Tax Tips for 2016

Here are 10 things to consider as you weigh potential tax moves between now and the end of the year: Ten Year-End Tax Tips for 2016

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Common Factors Affecting Retirement Income

When it comes to planning for your retirement income, it’s easy to overlook some of the common factors that can affect how much you’ll have available to spend. If you don’t consider how your retirement income can be impacted by investment risk, inflation risk, catastrophic illness or long-term care, and taxes, you may not be able to enjoy the retirement …

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Key Numbers 2016 – Tax Reference Numbers at a Glance

Please follow the link below for a helpful tax reference guide with key figures and tax rates for 2016: Key Tax Numbers – 2016

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Estate Tax Exemption – 2016 Update

In 2011, the American Tax Payer Relief Act (ATRA) changed the rules for the gift tax, estate tax, and generation-skipping transfer (GST) tax exemptions by creating a unified exemption amount that is indexed for inflation.  The ATRA created a base exemption amount of $5 Million, which has been steadily increasing due to annual inflation adjustments. Please click on the link …

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Leveraging an IRA to Build a Legacy

Individuals with IRA accounts can reduce the potential impact of estate taxes and “income in respect of a decedent” (IRD) taxes at death, and thereby enhance their legacies, with careful planning.  The following piece presents options for individuals with IRAs to maximize their charitable legacy and increase the inheritance to their children and grandchildren. Leveraging an IRA to Build a …

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2015 Tax Updates

Find out more about the 2015 tax updates important for our clients. Click the link below to download the PDF. 2015 Tax Updates  

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