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The political landscape in the U.S. shifted significantly in 2021. With that change, many anticipate major revisions to the tax laws, which will likely make transferring wealth much more difficult. Before it’s too late, take advantage of the wealth planning techniques available to you.

Increased complexity has become the norm in the world of tax. From the passage of tax reform to new legislation allowing states to levy taxes on remote sales, tax executives have had to flex their agility to steer their companies through a multitude of challenges. Looking ahead, tax executives predict that disruption and change will not only continue but accelerate. Tax executives are up to the challenge, focused on managing their total tax liability, and transforming their operations to adapt to whatever lies ahead.

In this Tax Outlook Survey, 150 tax executives were polled on questions ranging from their tax planning strategies to their views on environmental, social, and governance (ESG) initiatives. The findings indicate that the recently enacted and proposed tax policy changes continue to pose challenges to tax executives and their teams as they strive to guide their organizations through a dynamic world.

Each new year brings with it new tax-savings opportunities. This year, a list of strategies and tips to consider in your tax planning are provided, including charts showing the federal estate and gift tax exemptions and exclusions for 2022.

Without proper planning, digital assets could be lost. For executors, a challenge is often just determining whether digital assets are in the decedent's estate, and then determining the powers and terms for accessing and administering them on the beneficiaries' behalf. An inventory checklist of the broad-based digital footprint is provided as a beginning step in protecting and planning for these assets.

A Net Income with Makeup Charitable Remainder Unitrust (NIMCRUT) is a unique wealth planning strategy and is an effective means to maximize after-tax returns, as well as benefiting charities in certain circumstances common to high net-worth families and individuals. This article outlines some ideal circumstances and illustrates the significant difference this strategy can produce to sustain wealth while also benefiting a donor's chosen charity upon death.

As the owner of a closely held business, proper planning will ensure that, if something happens to you, your business interest is transferred according to wishes. Having a buy-sell agreement in place is only half the battle. Funding your agreement ensures that there is money available to purchase a departing owner’s business interest in the event of death, disability, retirement, or other circumstance. When considering and comparing the various funding options available, life insurance is often ideal.

For the charitably inclined individuals and families who are exploring ways to reduce their tax expose and maximize their charitable impact in 2022, there are eight tax-smart tips for charitable giving in 2022.

A meaningful wealth planning strategy embodies your vision, hopes, and personality, all to ensure you are financially well situated over your lifetime. By developing a solid blueprint, you can provide yourself and your loved ones with a secure future. First, begin with making sure your foundation is strong, then ask yourself what you are trying to achieve with your wealth. From there, gather and consider the different building blocks you have to work with.

New regulations proposed by the IRS seek to address the basic exclusion amount for estate and gift taxes which was doubled in 2017 under the Tax Cuts and Jobs Act. The doubling of the exemption is scheduled to sunset on January 1, 2026. When this occurs, how can a donor lock in the increased exemption for years 2018 through 2025? New proposed regulations issued April 27, 2022, provide some insights to possible solutions.