The Trump administration’s new tax reform bill was signed into law in December of 2017, representing the first major tax change in over 30 years. The changes are significant and are likely to affect nearly everyone in some measure; some positively, while others may find themselves with a higher tax bill in 2018. All of the changes represented in the new tax bill will be in effect through 2025.
The Internal Revenue Service, or IRS, defines a tax exemption limit for items given as gifts. If you’re planning to give a large gift to a friend, family member, coworker, or organization, it’s essential to understand how that gift will be taxed. Navigate this crucial tax question and continue to hit your financial goals with the help of Blue Water Capital Management in the Syracuse, NY, area. Keep on giving confidently and prepare your estate with peace of mind by working with our leading team of advisors.Read More