Things we still need to be grateful for in 2019…!

This Thanksgiving, there are several things that we need to be grateful for—and hey, we are after all an estate planning firm, so naturally we’re talking from the estate planning perspective.   Many of you may already know that we are currently in a taxpayer favorable environment and so it behooves us all to at least take notice, if not take advantage of, some of the planning techniques that are still around for the foreseeable future. Changes may occur in the administration a lot sooner than we all anticipated, so the “wait and see” approach is now no longer prudent—being thankful for the current environment may mean acting now rather […]

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Changes to the Kiddie Tax

Now that the new tax law has been underway for a few months now, this is probably a good time for a refresher on how the new changes affect the kiddie tax that could impact some families.   The kiddie tax was first introduced in the Tax Reform of 1986 to close the loophole through which wealthy parents and grandparents would transfer assets the produced investment income to their children or grandchildren so that the child would be taxed at the lower tax rate. The tax was imposed on a portion of the affected child’s unearned income at the parent’s marginal rates if that was higher than the child’s rate. […]

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