2018 Year-End Tax Planning
Each year we prepare this planning guide to help our our Bank of America Private Bank clients navigate common tax planning issues that arise at year end. For some of these year-end planning issues, you need to compare the tax benefits/burdens under the current year’s tax regime with the tax benefits/burdens under next year’s tax regime.
New tax legislation was enacted on December 22, 2017, which made significant changes to the income tax and transfer tax laws for 2018 and thereafter (with many of those changes scheduled to expire after 2025). This legislation is often referred to as the “Tax Cuts and Jobs Act”. This guide will factor in those changes as we summarize these planning issues.
Within the guide you can find information on basic tax planning, stock transactions, IRAs, year-end charitable gifts, intra-family wealth transfers and income tax rates.
National Wealth Planning Strategies Group
This material is current as of the date specified and is for informational purposes only. It is not a solicitation, or an offer to buy or sell any security or investment product, nor does it consider individual investment objectives or financial situations. While the information contained herein is believed to be reliable, we cannot guarantee its accuracy or completeness.
Neither U.S. Trust nor any of its affiliates or advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
