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In December, President Trump signed a new tax bill into law that is the largest tax overall since 1986. Learn how the new bill may affect your employee benefits programs. Watch and listen to Compliance Officers and Employee Benefits experts discuss the impact of the 2018 tax reform on employee benefits, as well as proposed regulations on Associatio...

The Tax Cuts and Jobs Act went into effect on January 1, 2018, and some experts suggest there could be a significant impact on charitable giving. Kim Laughton, President of Schwab Charitable, sat down with Hayden Adams, CPA, Director of Tax and Financial Planning at the Schwab Center for Financial Research (and former IRS agent) to discuss the new ...

The Tax Cuts and Jobs Act reduced income tax rate for C corporations from 35 percent to 21 percent in 2018. No sooner was the ink dry on the new law before owners of pass-through entities began to work with their advisors to determine if it made sense to convert their entities to C corporations. As is often the case with sophisticated tax planning,...

More than any other segment of the population, the wealthy understand the power of leverage in today’s environment. Borrowing against an investment portfolio not only has the possibility of boosting returns, but it can also provide liquidity in a tax-efficient way. With relatively low current interest rates, investors may want to consider bor...

There is great responsibility when serving the ultra-high net worth clients, especially those who are concerned about preserving a family legacy and the successful transfer of their wealth and/or business. In this issue of Family Wealth Advisors Insights, three areas of concerns are addressed for the advisors and their families: maximizing their fo...

Until recently, many families filled key governance roles associated with their trust and estate planning with trusted friends, colleagues, or advisors who were flattered to be asked and honored to serve. But many are now ready to retire and there is a shift in who is recruited—and willing—to take over. Top-caliber directors and t...

A private family trust company (PFTC) provides families with intergenerational governance over family assets and a private forum for decision-making. Without proper management, however, a PFTC can be exposed to costly litigation and the potential for significant liability. By developing and implementing policies that take into account the expertise...

From news out of Washington, to improving global growth and strong corporate profits, a number of factors could shape the markets in 2018, including the impact of the recent Tax Reform Bill may have on your portfolio. Christopher Hyzy, Chief Investment Officer for Bank of America Global Wealth & Investment Management, provides important insight...

The Tax Reform Act contains sweeping changes and impacts all taxpayers, from individuals to businesses, and the rules for each category are different. Generally, the changes made for individual taxpayers, including the pass-through rules for business entities, are effective from January 1, 2018 to December 31, 2025. If no changes are made by Decemb...

Now that the Tax Cuts and Jobs Act is law, it is helpful to have a checklist for determining how tax reform changes your employee benefit programs and a chart outlining the key benefit plan limits for 2018. Also in this issue of HR Focus, we revisit what sexual harassment is and what employers should be doing to prevent it, address it and help prot...

The Tax Cuts and Jobs Act of 2017 and the recent taxpayer victory in the U.S. Tax Court’s Lender Management, LLC decision have created important planning opportunities for closely held and family-controlled entities in 2018. In particular, with respect to: (1) navigating the elimination of the various deductions and the expansion of “bo...

The 2017 Tax Cuts and Jobs Act significantly affects the ability of the managers of investment funds to receive long-term capital gains with respect to their carried interest. Under current law, the manager of an investment fund can receive a “profits interest” (also known as a “carried interest” or a “promoted interes...

Although business-related settlement payments (and attorneys’ fees) are generally tax-deductible, the 2017 Tax Cuts and Jobs Act (the Tax Act) restricts an employer’s ability to obtain tax deductions for settlements of sexual harassment and abuse claims that are subject to nondisclosure agreements. This new deduction limitation applies ...

The benefits of the U.S. 2017 tax reform act (the Act) should be broadly felt by Americans, and businesses large and small will see tax relief. The Act contains elements important for stronger economic growth—a competitive corporate tax rate and a move toward a territorial system of international taxation. At the same time, the House and Sena...

Under prior law, the Internal Revenue Code provided that employers would be allowed deductions for operating privately owned aircraft attributable to business flights. Under the new law, though, expenses attributable to entertainment activities will now be 100 percent non-deductible, whereas in the past they were 50 percent deductible. Other change...