On an annual basis, certain individuals should review their income tax situation at the end of each year, so as to minimize their income tax liability for the year. Common planning techniques include deferring income and/or accelerating deductions to the following year. With the current climate of dramatic tax reform in Congress, there is even Read More…
2016 Year-end Strategies for Businesses & Individuals: Straddling Two Years of Significant Changes. Click to read here.
Currently, valuations of interests in family controlled entities for federal gift, estate and generation-skipping transfers can be reduced by discounts saving significant tax dollars, but this will change soon. It may be too late after December 1, 2016 to take advantage of the more favorable rules currently in effect. Aggressive discounts were historically taken, thus Read More…
For many business and individual taxpayers, it is a good idea to prepare a year-end tax projection to determine the estimated amount of their Federal and State tax for the current year. The goal is to minimize your tax liability, but if you know that you will owe tax, you want to find out how Read More…
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