Budget & Tax Reform – Blueprint for Wealth

Tax Bill-Estate and Gift Tax Changes

Taxpayers will have an $11,200,000 each for estate, gift tax, and generation-skipping tax exemption beginning January 1, 2018, which will rise with the Consumer Price Index each year thereafter. There were no…

Tax Bill – More on the New 20% Pass-Through Deduction

As I noted in a prior blog post, the new tax bill (TCJA) creates new Code Section 199A that provides for a 20% deduction for the non-wage portion of pass-through income. NOTE:…

Tax Bill – More Individual Planning

The tax bill (TCJA) repeals the deduction for personal exemptions. It increases the standard deductions for single filers to $12,000 and for married joint filers to $24,000. These changes sunset after 2025 (i.e.,…

Tax Bill Passes Senate; Great News for Real Estate Developers

By a slim margin of 51-48, the Senate passed the tax reform bill on December 19th. Included among the provisions is a hidden benefit for real estate developers. The bill…

House Passes Tax Bill!

The U.S. House of Representatives on Tuesday approved a nearly $1.5 trillion bill that would deliver deep and permanent tax cuts for corporations and lower rates for most American households…

Senate Finance Committee Passes Tax Reform

On November 16, the Senate Finance Committee approved its version of tax reform. While more changes to the Senate version are expected, there are several key differences between the Finance…

Treasury Withdraws Valuation Discount Regs!

On October 2nd, the Treasury Department announced that it is withdrawing the proposed regulations under Code Section 2704 (introduced in August 2016) that would have adversely affected taxpayers’ ability to…

Legislation Introduced to Prevent Enactment of Valuation Rules

Sen. Marco Rubio (R-Fla.) and Rep. Warren Davidson (R-Ohio) reintroduced legislation to prevent the IRS from enacting its highly controversial estate valuation discount proposed regulations introduced in August 2016. The…

Will the Estate Tax be Repealed in 2017?

Sen. John Thune (R-SD) announced that he and other Republicans will push for repeal of the federal estate tax in 2017 as part of more comprehensive tax reform, in lieu…

Another Summary of Trump and Republican Tax Proposals

Now that the election is over, tax reform is high on the agenda of the President-Elect and the Republican controlled Congress. For an excellent summary of the Trump and Republican…

Category: Budget & Tax Reform