Tag Archives | tax cuts and jobs act estates

father giving gift to son

Estates: IRS Confirms Large Gifts Now Won’t Hurt Post 2025

The IRS has issued final regulations that should provide comfort to taxpayers interested in making large gifts under the current gift and estate tax regime. The final regs generally adopt, with some revisions, proposed regs that the IRS released in November 2018. Providing clarification The Tax Cuts and Jobs Act (TCJA) temporarily doubled the gift […]

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Add Spendthrift Language to Your Trust

Protecting assets from creditors is a critical aspect of estate planning, but you need to think about more than just your own creditors. You also need to consider your heirs’ creditors. Adding spendthrift language to a trust benefiting your heirs can help safeguard assets. Spendthrift language explained Despite its name, the purpose of a spendthrift […]

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Valuable paintings collection

Donating Valuable Art

Charitable giving is a key part of estate planning for many people. If you have a collection of valuable art and are charitably minded, consider donating one or more pieces to receive tax deductions. Generally, it’s advantageous to donate appreciated property to avoid capital gains taxes. Because the top federal capital gains rate for art […]

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multi-generational-family-walking-together | dynasty trusts | Dalby, Wendland & Co., P.C. | CPAs | Business Advisors | Trust Estate & Gift Tax Planning | Grand Junction CO | Glenwood Springs CO | Montrose CO

Dynasty Trusts More Valuable Than Ever

The Tax Cuts and Jobs Act (TCJA), signed into law this past December, affects more than just income taxes. It’s brought great changes to estate planning and, in doing so, bolstered the potential value of dynasty trusts. Exemption changes Let’s start with the TCJA. It doesn’t repeal the estate tax, as had been discussed before […]

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Kiddie Tax

The Kiddie Tax and TCJA

Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets. To discourage such strategies, Congress created the “kiddie” tax back in 1986. Since then, this tax has gradually become more far-reaching. Now, under the Tax […]

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