On March 9, 2023, the Biden Administration released its budget and tax proposals for FY2024. Alongside the Budget the Treasury released its document further describing the revenue proposals in what is typically called the Greenbook. Many of the proposals are reminiscent to those in prior years’ Greenbook. The budget proposes to increase taxes for corporations […]
high net worth
Given the amount that an individual can give away without incurring gift taxes is at a historic high and the prospect that in the near future this amount could decrease significantly many of your high net worth clients may be considering significant lifetime gifts this year. There may never be such an opportunity again, but […]
We’ve advised readers in the past against dropping existing life insurance policies simply because of the temporary increase in the estate tax exemption. Instead, now is the time to review existing policies, possibly simplify techniques or repurpose its use. Not sure how? Here’s a list of seven strategies for repurposing existing life insurance.