Trusts & Estates

read
Trusts & Estates

Tax Reform is Here: What You Need to Know to Advise Your Clients

By Jeramie J. Fortenberry, JD, LLM | Director of Education, WealthCounsel

Alert: Congress Passes Sweeping Tax Reform Bill

The most significant tax reform package of this generation is now awaiting the President’s signature and is widely expected to be signed into law at any time. The new tax law changes the tax planning landscape, creating both pitfalls and opportunities for attorneys and the clients they serve. It is critical for business and estate planning attorneys to understand these changes and how they affect their clients.

In this Thought Paper, Jeramie Fortenberry, JD, LLM, provides actionable guidance for planning under the new and different tax landscape. It includes a discussion of:

  • The new (but temporary) deduction for pass-through businesses and the related limitations that apply
  • Other significant changes to pass-through businesses, including loss limitations, repeal of the technical termination rules, and changes to electing small business trusts (ESTBs)
  • The flat 21-percent tax rate that applies to C corporations and how it affects the choice-of- entity decision
  • Limitations on common business deductions, including interest paid or accrued by businesses and net operating losses
  • Changes to individual taxation, including the doubled estate tax exemption and what it means for planners


Complete the form to get your free guide

Related Resources

Tax cheat sheet lp
read
Trusts & Estates

2021 Tax Cheat Sheets for Clients and Prospects

Download our free tax filing cheat sheets to give to your clients and prospects.

Learn More
Gift Trust IRT 1 thumbnail
read
Trusts & Estates

gifIrrevocable Trust Gifting Trust Sample

Download our Irrevocable Trust Gifting Trust Sample and see how Wealth Docx(R) makes drafting gift trusts simple.

Learn More
IB GOP Act thumbnail
read
Trusts & Estates

The Tax Cuts and Jobs Act: Estate and GST Taxes Repealed; Retirement Accounts Remain Unaltered

On November 2, 2017, the Republicans in the House of Representatives released their version of the tax bill, The Tax Cuts and Jobs Act (the “GOP Act”). Find out what's inside the bill.

Learn More

Get the Premier Magazine for Industry Thought Leaders