How Does The Recently Passed Tax Reform Legislation Affect You?
Gaby • December 22, 2017
In light of the rather substantive changes included in the recently passed tax reform legislation, we strongly encourage you to contact your tax advisor as soon as possible BEFORE December 31, 2017 to discuss these changes.
Effective tax rates, deductions, etc. may be different for you in 2018 than 2017 and your tax advisor may be able to discuss potential tax planning opportunities with you.
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With the new year comes new estate and gift tax exemption levels. But what does this mean for you? Most clients I meet with are surprised to learn they (or more accurately, their family or beneficiaries) won't need to pay taxes when they die. As the estate tax laws are now, most people's estate will not need to pay taxes at death. Here is a very simplified explanation of how the Estate Tax works and why most people don't pay estate tax.
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