Backdoor Roth IRA Contributions after Tax Reform
Tuesday, May 29th, 2018 | Estate Planning, Retirement Assets, Tax | No Comments
It pays to read the footnotes.
Read More »2018 Federal Income Tax Rates: Estates and Trusts
Tuesday, April 17th, 2018 | Estate Planning, Tax, Trusts | No Comments
These numbers will be adjusted annually for inflation based on the chained consumer price index (C-CPI-U). For more on the Tax Cuts and Jobs Act, click here. Source: Joint Explanatory Statement of the Committee of Conference, p. 13 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS
Read More »New IRS FAQs Address 2017 Roth Conversion Concerns
Wednesday, January 24th, 2018 | Estate Planning, Retirement Assets, Tax | No Comments
The IRS has issued new guidance on recharacterization of Roth conversions, and it is good news for taxpayers who converted in 2017.
Read More »Tangible Personal Property No Longer Qualifies for 1031 Treatment
Saturday, January 13th, 2018 | Tax | No Comments
Beginning January 1, 2018, Section 1031 like-kind exchange tax deferral will no longer apply to exchanges of tangible personal property. Under the Tax Cuts and Jobs Act, only real property will qualify for tax deferral in a like-kind exchange.
Read More »529 Plans: Not Just for College Anymore
Thursday, December 21st, 2017 | Estate Planning, Tax | No Comments
Starting in 2018, 529 plans can be used to pay tuition expenses for elementary and secondary schools, thanks to the Tax Cuts and Jobs Act.
Read More »“Repeal” of the Individual Mandate
Thursday, December 21st, 2017 | Tax | No Comments
Under the tax bill formerly known as the Tax Cuts and Jobs Act, the individual mandate has not been repealed, it has just been told to stand quietly in the corner in 2019.
Read More »Qualified Business Deduction Under New § 199A
Wednesday, December 20th, 2017 | Tax | No Comments
The tax bill formerly known as the Tax Cuts and Jobs Acts adds new Section 199A, the Qualified Business Deduction. Here is what you need to know.
Read More »Charitable Giving Under the Tax Bill
Wednesday, December 20th, 2017 | Charitable, Charitable Organizations, Estate Planning, Tax | No Comments
The Tax Cuts and Jobs Act includes three provisions related to charitable giving.
Read More »501(c)(3) Electioneering Prohibition Alive and Well
Tuesday, December 19th, 2017 | Charitable Organizations, Tax | No Comments
Despite efforts by the House, the Tax Cuts and Jobs Act does NOT scale back the Johnson Amendment.
Read More »Estate Tax under the Tax Bill
Monday, December 18th, 2017 | Estate Planning, Tax | No Comments
If the Tax Cuts and Jobs Act passes, the number of estates subject to the death tax is about to get even smaller, at least temporarily.
Read More »Prepaying State and Local Taxes in 2017
Saturday, December 16th, 2017 | Tax | No Comments
Don’t bother.
Read More »Last Chance for Risk-Free Roth Conversions
Saturday, December 16th, 2017 | Estate Planning, Retirement Assets, Tax | No Comments
The rules will change–and not for the better–in 2018, assuming the Tax Cuts and Job Act passes.
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