A round-up of important highlights from the current tax law. Under current law, there are seven individual tax brackets, with the top rate at 37%. The exemption for estate, gift, and generation-skipping transfer taxes is $11.58 million for individuals or $23.16 million for married couples.The standard deduction is $12,400 for individuals and $24,800 for married couplesIn December 2017, President Trump signed into law the highly anticipated tax reform act.
As trusts evolve, the need for a robust and experienced trustee is paramount. Over the past half-century, the role of trustees has evolved rapidly along with the trust industry itself.Increased complexity of trust investments and expansion of modern trust laws are just two elements of this evolution.Modern trusts require the services of robust professional trustees adept at navigating complex legal, tax, investment, and regulatory issues.
Discover the pros and cons of purchasing and leasing aircraft. Some companies may be subject to requirements prohibiting aircraft ownership due to shareholder or insurance liability concerns.A lease arrangement may be more flexible than purchase of an aircraft.An experienced professional can customize provisions and options in your aircraft lease to meet the specific business, tax, and accounting requirements of your company.