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How do the changing tax provisions impact your financial planning?
Today on The Truth About Wealth, John and Michael Parise discuss the implications of the expiring tax provisions from the Tax Cuts and Jobs Act. They underscore the necessity of proactive tax planning and the importance of consulting with advisors to maximize benefits before these provisions lapse.
Their conversation spans estate planning, business tax laws, individual tax brackets, and charitable planning, highlighting the urgency for families to strategize for their financial future in light of these changes.
Talking points include:
- Expiring tax provisions from the Tax Cuts and Jobs Act
- The need for proactive tax planning
- What tax provisions are expiring, and what provisions are permanent
- Considerations in estate planning
- Updates on business tax laws
- Changes in individual income tax brackets
- Strategies for charitable planning