Prepaying State and Local Taxes in 2017

Don’t bother.  The Tax Cuts and Jobs Act generally eliminates the deductions for state and local property taxes, income taxes, and sales taxes. Starting in 2018, an individual will only be able to deduct these items if they are paid or accrued in carrying on a...

Funding a Trust with Annuities? Beware.

There are income tax consequences to transferring annuities for less than full and adequate consideration. If you are considering making a gift of annuities in trust, keep the following in mind: If an individual who holds an annuity contract transfers it without full...