Client Alert: Tax Planning This Election Year

The Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act) effected a number of tax changes that ben­e­fitted high-net-worth in­dividuals and businesses.

The changes that benefitted high net worth individuals include:

• lowering the income tax rates
• in­creasing the standard deduction
• reducing the alternative minimum tax
• allowing capital gains to be rolled over into qualified opportu­ni­ty zone funds; and
• nearly doubling the estate and gift tax exemption.

To read the article, please click the link:

https://www.wbny.com/tax-planning-this-election-year