Tax Planning in the Midst of Uncertainty AKM Tax Guide 2017-2018 [pdf] Overview of Changes Contained in the New Tax Law [pdf] We always urge clients to consider tax planning an ongoing activity. Given recent significant changes in the law, … Continue reading
Planning for sustained prosperity. Click here to download AKM Tax Guide 2016-2017 [pdf] A number of tax breaks were finally made permanent in 2015, making tax planning easier in 2016 than in recent years. However, some popular breaks were extended … Continue reading
With an uncertain playing field, nimbleness is critical. Click here to download AKM Tax Guide 2015-2016 [pdf] We’ve been here before. Tax “extenders” – various deductions and credits, typically affecting higher net worth individuals and business owners – are again … Continue reading
At the beginning of 2013, many tax rates and breaks were made permanent. The increased certainty brought by these tax law changes has in some ways made tax planning in 2014 a little easier.
But the changes also brought tax hikes to higher-income taxpayers — including the return of the 39.6% income tax rate and 20% long-term capital gains rate. In addition, some new and expanded taxes under the Affordable Care Act (ACA) now affect higher-income taxpayers: the 3.8% net investment income tax and the 0.9% additional Medicare tax.
Tax planning last year involved preparing for significant tax increases scheduled for 2013, though there was uncertainty about whether those increases would be allowed to go into effect. On Jan. 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 (ATRA), which prevented income tax rate increases for most taxpayers. Continue reading
Mixed news for higher income taxpayers – The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 kept ordinary-income and long-term capital gains rates from increasing this year and established “patches” for the AMT that may help reduce or eliminate your 2011 AMT liability. The act also offers some enhanced estate planning opportunities. And it extends and expands a number of other tax breaks. That’s the good news.
But many provisions of the law — including the extensions of the lower income and capital gains tax rates — are set to expire at the end of 2012 unless Congress extends them again. In light of this uncertainty, minimizing your taxes over the next few years will require especially careful planning and timely action, as well as a thorough understanding of various tax-saving strategies. Continue reading
Ongoing changes in tax laws, an unpredictable economy and uncertainty about the future have made minimizing taxes more difficult than ever. This is especially true for investments, because the 15% rate on qualified dividends and long-term capital gains is set to expire at the end of the year — but could be extended. To complicate matters, some new tax breaks have gone into effect this year, but only on a temporary basis. Also, income and estate tax rates are scheduled to go up in 2011 if Congress doesn’t act. Continue reading
As a successful individual, you know that building your net worth takes more than simply increasing your income. It requires minimizing your taxes, so you get to keep more of what you earn. But as tax law becomes more complex, tax planning becomes more difficult. You
need to think farther ahead, employ more sophisticated strategies and take advantage of every tax break you can. Continue reading
The turn of the year is a wonderful time for renewal, for reflection and for spending time with those you care about. It’s also the time when you should start considering your tax strategy for the coming year. We recognize that taxes are probably the last thing you want to think about, particularly with so much else going on in your busy life. But a little planning now can reduce your tax bill later — sometimes by a lot.
This publication covers the broad strokes of changes in tax law and the issues that might be of concern to you, your family and your business. Continue reading