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On July 4th, Congress enacted the One Big Beautiful Bill Act (“OB3”), one of the most significant tax reform packages in recent history. OB3 introduces far-reaching changes that will impact income, estate, charitable, and business planning for years to come. Key highlights include: Estate, Gift & GST Tax Exemptions: Permanently increased to $15 million per […]
Read MoreTax Legislation With recent Republican victories in the U.S. presidential, Senate, and House races, significant tax policy changes are expected in 2025, particularly regarding provisions of the Tax Cuts and Jobs Act of 2017 (TCJA), many of which are scheduled to expire on December 31, 2025. While Republican control of both the House and Senate […]
Read MoreTax Legislation A politically divided Congress struggled to pass any form of meaningful legislation in 2023. There had been some discussion around extending or modifying certain expiring tax provisions of the Tax Cuts and Jobs Act (TCJA). Expiring TCJA provisions were not the only tax items gathering some movement. Congress had also been discussing multiple […]
Read MoreUltra-affluent families with excess capital often have dual goals of charitable giving and preserving wealth for future generations. The Charitable Lead Trust (“CLT”) is an ideal vehicle for accomplishing these competing objectives. Please click here to read more.
Read MoreEach year the IRS makes certain inflation adjustments to tax rates, standard deductions, and a variety of other tax-related rules. This memorandum highlights some of the more material changes that apply in 2021 to many of the most commonly encountered items.
Read MoreColony Trust Company is pleased to announce that it is a Premier Virtual Sponsor of the Queens University of Charlotte 42nd annual Estate Planners Day. Queens’ single-day conference offers a comprehensive educational program for estate planning professionals. Nationally recognized experts in the fields of estate planning, tax, accounting, insurance, and state and federal law will […]
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