Federal Estate Tax Exemption for 2018
The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law on December 22, 2017. With it came sweeping changes to many different sections of the tax code. One of significance, of course – since this is an estate planning blog, was the Federal Estate Tax Exemption amounts. For 2017, the exemption amounts were $5.49M for and…
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Tax Reform 2017: What Can We Expect?
How Will Estate Planning and Business Be Impacted by Tax Reform? While there hasn’t been a bill that has passed both chambers of Congress just yet, let’s break down how the House and Senate bills, which have passed in their respective chambers, may impact your estate and your business. Estate Taxes Regardless of which version of tax reform passes and…
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Estate Tax Exemption for Estates in North Carolina – 2018 Update
Another year, another increase in the lifetime estate tax exemption for estates in North Carolina (and nationwide). Since the exemption amount is tied to inflation and set to increase each year (or maybe be repealed altogether), around this time each year estate planners and high net worth families await the expected exemption limits for the following year, as set by…
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Trump Rolls Back Fiduciary Rule
So, after all the buildup and shifting of financial advising strategies throughout the industry to comply with the Department of Labor’s (DOL) Fiduciary Rule – which would apply a fiduciary standard to any advisor dealing with retirement planning, the President Trump has issued an Executive Order rolling back that rule and preventing it from going into affect. But, will it…
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Proposed Medicaid Changes Could Have Significant Impact
With a new year and a new administration, there is always uncertainty about tax reform, medicaid and medicare reform, and social security reform. I’ve written previously about proposed estate tax and corporate tax reforms – both of which are based on President-Elect Trump’s campaign plan, but not on actual proposed legislation or regulations. Now the topic has turned to proposed…
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