This Issues and Insights discusses year-end tax planning strategies. It’s important to explore your year-end planning opportunities in light of the sweeping changes made to virtually all areas of federal tax law that went into effect this year.Areas such as income and deduction timing, charitable giving, annual exclusion gifts, and others are discussed.
This article reprint was recently published in the Bloomberg BNA’s Estates, Gifts, and Trusts Journal. Simple annual exclusion gifting can be a very valuable source of funding. Leveraging annual exclusion gifting with trust structures can potentially enhance the benefits.Utilizing the 2018 $11.18 million gift tax exemption has the potential to powerfully impact the educational funding front.
An important four-part series that discusses a host of issues involving state income taxes on trusts. Part One provides an overview of the various approaches to taxation of trust income, then reviews the various constitutional restrictions, as reflected in numerous federal and state cases.Part Two further examines these aspects, beginning with a discussion of the seminal U.S. Supreme Court case of Quill Corp. v.