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ARTICLE · 10 DECEMBER 2013

Year-End Tax Tips

Reinhart, Boerner, Van Deuren SC
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In recent years, estate and gift tax strategies have required a crystal ball. As we head into 2014, the ability to plan with more certainty is here.

United StatesTax
Christine Barden
Christine Barden
Jennifer D'Amato
Jennifer D'Amato
Frederic Friedman
Frederic Friedman
John Herbers
John Herbers
Nathan Johnson
Nathan Johnson
Jessica King
Jessica King
Gregory Monday
Gregory Monday
Caitlyn Sikorski
Caitlyn Sikorski
Peter Wyant
Peter Wyant
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In recent years, estate and gift tax strategies have required a crystal ball. As we head into 2014, the ability to plan with more certainty is here. The estate and gift tax area that had us all hopping last year has settled down with a large unified exemption, indexed for inflation. However, the same legislation that brought us this relief has complicated the income tax landscape by adding new brackets and mandates.

Here are some tax-planning techniques to consider implementing as 2013 draws to a close:

  1. Utilize Annual Exclusions. $14,000 per donor per donee. Gifts to trusts may qualify as well. Use it or lose it.
  2. Review Impact of New 3.8% Tax. The new 3.8% Net Investment Income Tax now applies to most investment income. For individuals, the amount subject to the tax is the lesser of:

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