Tax legislation passed in 2010 gave individuals a two-year window that offers additional flexibility in gifting and increases the amount one can shelter from estate taxes from $3.5 million to $5 million. That window will soon close. It is unclear what will happen in 2013. Our personal tax specialists will offer a proactive, flexible approach to help you to better manage your tax planning in this time of uncertainty. They will help you formulate an action plan to identify strategies that can be used to minimize your tax burden for 2012 and beyond. You can learn from our experts what to do in the current year given the threat of new, higher income tax rates scheduled to take effect in 2013.
At the conclusion of this webinar, participants will be able to:
- Provide an overview of the current tax climate
- Describe how the current capital gains and income tax rates create tax planning opportunities
- Identify opportunities to avoid the impending Medicare “surcharge” for high-income earners
- Plan to take advantage of “phased out” limitations on itemized deductions
- Consider the impact of scheduled decreases in the estate and gift tax exemptions while assessing their current estate plans
Presenters | Katie Hamilton and Amy Tietz, personal tax specialists on the wealth management team.