Back in December, President Donald Trump signed the Tax Cuts and Jobs Act. Congress had included in the act a “20 percent of X” tax deduction for owners of pass-through businesses, and most small businesses owners celebrated. “This is the first broad brush deduction available only to businesses owners since the inception of the Federal […]
Archives for March 2018
Ten Takeaways from the Tax Reform for HNW Individuals
The Tax Cuts and Jobs Act introduced significant changes to the taxation of high-net-worth individuals. The changes particularly affect globally mobile clients and multi-jurisdictional families with U.S. connections. Here are some key takeaways for international HNW individuals. Read the full article here>>
Gifting Opportunities Under the New Tax Law
Individuals who previously exhausted their $5.49 million gift tax exemption now have another bite at the apple. Under the Tax Cuts and Jobs Act, individuals are now able to transfer approximately $11.18 million free of estate, gift and generation-skipping transfer tax during their lives or upon death. A married couple will be able to transfer […]