Due to several related provisions in the TCJA, generally effective through 2025, more individuals claim the standard deduction in lieu of itemizing deductions. It has also increased the importance of planning the timing of certain itemized deductions for some taxpayers. For instance, you may want t...
YEAR-END MOVE:Incorporate this into your overall estate plan. For instance, your plan may involve various techniques, including bypass trusts, that maximize the benefits of the estate and gift tax exemption. Also, the higher interest rate environment may make certain estate planning strategies more ...
Year-end tax planning can be especially beneficial to individuals with uneven income streams, providing the opportunity to accelerate or defer compensation. In a lower-than-usual income year, it's often prudent to review existing traditional IRAs and former employer 401(k) plans and work with a...
Tax-planning strategies to consider by year-end Be sure to take all your required minimum distributions (RMDs) Generally, taxpayers age 73 or older must takeminimum distributions from your tax-deferred retirement accountsby the end of the year. (Individuals who reached RMD age in 2024 have until...
June 07, 2024 Strategies Single, Divorced or Remarried Individuals Can Use to Reduce Estate Taxes Wealth Advisor Adam Yofan and a panel of divorce and estate planning attorneys discuss tax-saving options for high-net-worth individuals who expect to have complex estates to manage. ...
Dec 17, 2024 Tax Planning & Preparation XQ CPA will help you identify effective tax strategies that could potentially save you hundreds or even thousands of dollars. READ MORE > How to Grow Your Wealth Through Tax Planning is an original book written by XQ CPA founder Charlene Quah (Partner,...
1. Key Tax Planning Strategies Year-End Tax Planning Tips Tax Tip 1provides a snapshot of key strategies geared toward helping you achieve your planning goals. It includes ideas to help you reduce your current year’s tax as well as any potential future taxes. While this chart is not all...
Tax Planning Strategies for Terminally Ill Individuals and their FamiliesHess, David J.MacPhail, Carol S.CPA Journal
2021 Year-End Tax Planning Strategies for Individuals Read More Insights December 6, 2021 Planning Considerations for Today’s Modern Families Read More Contacts Select the region to view contacts. All Offices California Florida Massachusetts New York Pennsylvania Robert L. Babek Office Managing Pa...
Wider tax brackets, a higher standard deduction, and expanded saving opportunities may help create new tax-saving possibilities for 2024. Consider tax-planning strategies throughout the year, like maximizing credits and deductions and using tax-smart investing strategies. A tax advisor and financial pr...