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It may seem that there will always be time to address estate planning. However, a unique opportunity to maximize the amount of wealth that can be tax-efficiently passed to heirs will expire at the
For one reason or another, many families are reevaluating and modifying their fiduciary structures. To assist in these discussions, a reference summary of state laws is provided for consideration
Residents in 43 states pay state income tax, with the highest rate being 13.3%. When combined with the top federal marginal tax rate and the net investment income tax, residents subject to the
With more business families going global, it’s imperative that family businesses consider the tax implications as well as the business and personal factors when planning a family business
Persistent inflation and high interest rates have driven up costs and negatively affected charities. As a result, taking an efficient, tax-smart approach to maximizing donor impact has never been
While it can happen at any time, it’s usually at year’s end that brings a wealth of considerations to the table for individuals—setting the right tax strategy, determining your
Effective tax planning can accomplish much more than limiting the tax liabilities for the current and future years. With a closer look at the federal state and gift tax exemption levels and other tax
For income earned in 2023 and tax returns filed in 2024, this reference guide provides information on the tax rate schedules, exemptions, and contributions to savings plans.
The SECURE 2.0 Act of 2022, signed into law by President Joe Biden on December 29, 2022, makes significant changes to the administration and taxation of retirement plans. It addresses many practical
The quest for nonprofit funding and ways to obtain it continues to evolve while donors want to know the impact of their funds. In this discussion, BPM’s Daniel Figueredo and Tami McInerney