Treussard Capital Management的动态

Two things people really hate thinking about? Taxes and their own death! Sweet... Let's talk about Estate Planning! It's almost as fun as accounting and insurance, but with more taxes and death baked in... ?? Was reading David Haughton, JD, CPWA? yesterday on a couple of important topics. I know, I know... You love all your children the same and you want to treat them equitably, right? The "obvious" way to go about splitting your estate: Right down the middle? Well, that ignores that your adult kids might face different tax burdens, based on income, states where they live, etc... A more *after-tax* equitable and TAX-EFFICIENT approach may be to give: →?More highly-taxed assets to the kids with the lower tax burden →?More lightly-taxed assets to the other kids. →?And super-duper taxed assets to charity. Another fun fact as you're thinking about what money might do to your kids' motivation? Think about creating INCENTIVES via your trust: →?POSITIVE gates: more access to funds for *academic achievements* or *making a living independently* →?NEGATIVE gates: less access for *substance abuse* or other *self-sabotaging* acts. And then there is conveying family values by getting the next gen involved with charitable funds... That's really a good one, too, David! Brent Sullivan ?? - You might enjoy the tax stuff ?? *** ?? repost to share with your network ?? enjoy my content → follow me Jonathan Treussard, Ph.D. for more in the future Disclaimer: This is purely education, not financial advice. You should talk to an estate or financial pro about any of this.

Should you reconsider how you plan to pass on your wealth? Many people pass wealth on to family and charities after they have passed. The downside of this is that the individual or spouses aren't able to feel their generosity while living and that their beneficiaries receive an inheritance later in life when they are more likely to be financial secure. Additionally, if you have substantial assets, you may have to federal and state estate taxes. How might we consider doing this differently? If we have adequately planned and have a degree of confidence that our assets will support us throughout our lives, we might consider gifting annually. Doing this will allow us to feel the impact of our generosity while living, it will support our family members earlier on in life when they would most benefit from receiving financial support and it may lower our taxable estate. Are you taxed on money that you give away? No, but with a caveat.. We all have a lifetime federal estate/gift tax exemption amount (currently $13.61 million dollars and double if married). If we pass with taxable assets exceeding this amount, then we pay estate tax at 40% on the difference. Pass away with less? No estate taxes. If you give gifts of greater than $18,000 ($36,000, if married) to any one recipient in 2024, you have to notate this on your tax return. HOWEVER, the gift is still not taxable to you or the recipient. It simply lowers your $13.61M (or $27.22M, if married) lifetime estate exemption amount. By giving annual gifts to loved ones, you can ensure that you are being generous to those you care about while helping minimize the impact of taxes on your future estate. *Note: the federal lifetime exemption amount may be lowered substantially in 2026, which may require greater estate planning. Additionally, states impose their own estate exemption levels that are much lower than federal levels. WA's is $2.2M and OR"s is $1M.

Ready or not — it's time to set those tax season gears in motion! We'll need a few things from you before we can work our tax return magic, so keep an eye out for these essential documents in your mailbox or inbox over the next few weeks: W-2s and 1099s for all your hard-earned income, Schedule K-1 for trusts, partnership and S corporations, and any other income documents. Mortgage interest statements (Form 1098) if it applies to you. Summary Lists for deductible expenses, like medical bills, charitable donations, and business expenses. Records of significant life events like marriage, divorce, or new dependents. Remember the deadline to file your federal income tax return is Tuesday, April 15, 2025. To dodge last-minute stress, PLEASE BRING IN YOUR TAX DOCUMENTS BEFORE APRIL 1, 2025. Failure to do so will result in your return going on extension.

Unlock the Secrets to Keeping More of Your Hard-Earned Money! ?? Did you know there are legal ways to significantly reduce your tax burden that many people overlook? Our latest blog post reveals 5 powerful strategies that could potentially save you thousands in taxes. Here's a sneak peek: 1. A government-backed investment that offers triple tax benefits. 2. How your home loan could be your ticket to major tax savings. 3. The often-forgotten deduction that renters can claim. 4. A win-win strategy that helps others while cutting your tax bill. 5. The "health" trick that protects your wealth and reduces taxes. Intrigued? There's so much more to learn! ?? Click here to read the full blog post: "5 Tips to Save Tax from Your Income" https://lnkd.in/gjm_eKix Discover how to: ? Maximize your tax-saving investments. ? Turn your living expenses into tax benefits. ? Support causes you care about while saving money. Don't let another rupee slip away to taxes unnecessarily. Arm yourself with the knowledge to keep more of what you earn! Bonus: Learn how supporting Aashritha Charitable Trust's mission can align with your tax-saving goals. Read the full article now and start your journey to smarter tax planning! #TaxSavingTips #FinancialFreedom #SmartMoney #NGO #CharitableDonations #AashrithaCharitableTrust #FinancialPlanning #Investment #TaxSavings #Donations #VijayawadaNGO

Did you know estate tax laws may reduce the exemption from over $13M to $7M per person in the next year and a half? Wealth Planner & Estate Attorney Brian Standing discussed advanced estate tax planning strategies on our newest THE FINANCIAL COMMUTE episode to help prepare you for these changes. Here are some of our key takeaways: - High net worth individuals with estates over $26M (married) or $13M (single) should consider advanced planning. - ILITs help create liquidity for estate taxes without forcing asset sales. - SLATs allow assets to be given to a spouse, maintaining indirect income access while reducing taxes, though there are risks. - Charitable Remainder Trusts enable donating assets to a charity in the future while retaining income. - FLPs reduce estate tax liability by discounting restricted ownership interests. ?? Watch the episode now: https://lnkd.in/gyDpTTMv #EstatePlanning #WealthManagement

?? Looking for tax-efficient ways to transfer wealth to the next generation? Check out these six strategies to ensure your legacy is preserved and your loved ones benefit the most: Annual Gifting: Utilize the annual gift tax exclusion to transfer wealth without incurring taxes. Irrevocable Trusts: Protect assets and potentially reduce estate taxes. Family Limited Partnerships: Maintain control over assets while transferring value to heirs. Grantor Retained Annuity Trusts (GRATs): Minimize gift taxes on asset transfers. Charitable Giving: Benefit from tax deductions while supporting causes you care about. Life Insurance: Use policies to provide tax-free benefits to heirs. Learn more about these strategies and how they and CLA (CliftonLarsonAllen) can help you achieve your financial goals. ??

As the current estate tax limits are set to sunset in 2025, high-net-worth individuals should take action now. Estate tax exclusions could drop significantly, increasing the tax burden on your wealth. Now is the time to consider strategies like gifting, charitable contributions, and trusts to safeguard your assets and minimize taxes. Learn more with our blog: https://bit.ly/3Mo2lTx

As the current estate tax limits are set to sunset in 2025, high-net-worth individuals should take action now. Estate tax exclusions could drop significantly, increasing the tax burden on your wealth. Now is the time to consider strategies like gifting, charitable contributions, and trusts to safeguard your assets and minimize taxes. Learn more with our blog: https://bit.ly/3Mo2lTx

Trust Planning for High-Net-Worth Canadians: Smart Strategies to Protect & Grow Wealth If you’ve built significant wealth, you’ve probably thought about how to protect it, minimize taxes, and ensure it’s passed on smoothly. This is where trusts come in. Here are a few ways high-net-worth Canadians use trusts for smarter wealth planning: ? Income Splitting & Tax Efficiency – A family trust can distribute income to beneficiaries (like lower-income family members) who pay lower tax rates, reducing the overall family tax bill. ? Protecting Assets from Creditors & Lawsuits – If you’re in a profession or business with liability risks, a discretionary trust can help shield assets from potential claims. ? Smooth Estate Transition & Probate Savings – Assets held in a trust can bypass probate, saving time, legal fees, and maintaining privacy. This can be especially useful if you have assets in multiple jurisdictions. ? Providing for Future Generations – A trust lets you control how and when your wealth is distributed. This is useful for ensuring financial security for children while preventing reckless spending. ? Charitable Giving with Tax Benefits – A charitable remainder trust lets you donate assets while still receiving income during your lifetime—reducing taxes and leaving a lasting impact. Trusts aren’t just for the ultra-wealthy. If you’re a business owner, real estate investor, or have significant investments, they can be a game-changer for tax and estate planning. #planning #trusts #tax