Legal Tip of the Week – 5/1/18!

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 […]

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