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2018 essential tax and wealth planning guide

See a new perspective. Look again.

Take a fresh look at your tax and wealth planning objectives to see beyond the current uncertainty. Our planning guide can help you refocus on what is most important—your family, business, and personal goals—and stay ahead of impending change.

2018 essential tax and wealth planning guide: Three part installation

Deloitte’s 2018 essential tax and wealth planning guide—released in three parts over the coming months—covers the issues critical to building and sustaining an effective tax and wealth plan. Each new release will provide you with timely, accessible, and relevant insights for conducting an ongoing planning dialogue among you, your family members, and your tax advisers.

Topics covered in each installment include:
  • Installment one: Download our first installment for valuable insights on important tax issues that have emerged in 2017 and are likely to impact your year-end planning. Chapters presented include individual income tax planning, foundational wealth transfer planning, philanthropic planning, as well as a timely look at tax policy and a bonus section on tax-related identify theft. This is the perfect time to take advantage of any last-minute tax planning.
  • Installment two (January 2018): Just after the New Year, the second edition will deliver to you insights, planning tools, and new perspectives to take action on more complex issues. Chapters will include family offices, post-mortem considerations, and advanced wealth transfer planning. A bonus section will continue the conversation with an update on tax policy.
  • Installment three (early 2018): Our third release will focus on understanding the tax implications of investments as you shape and refine your planning over time. Chapters will cover globalization, unique investments, and the tax implications of fund investing—along with the latest updates regarding tax policy developments.

While the uncertainty generated by today’s political and legislative environment may tempt you to step back and wait before making decisions, now is the time to take a fresh look at where you are and what your next steps should be. Apply a new lens to the familiar and constant aspects of your world—your family, your business, and your personal goals—to understand the change afoot and how you can stay ahead of it. Deloitte’s 2018 essential tax and wealth planning guide can help you jump-start this critical process.

Installment one: November 2017

Individual income tax planning

Foundational wealth transfer planning

With the potential for tax reform on the horizon, your peripheral view may include glimpses of change in individual tax rates or deductions. However, as you consider individual income tax planning matters, your goals and objectives need to be front and center. Take another look at planning for your 2017 individual tax matters and concentrate on what is available to you today, based on current law, with an eye toward the issues and opportunities that tax reform may create for you tomorrow. Keeping these perspectives in balance will help you realize tax planning for you and your family based on your overall objectives.

Effective wealth transfer planning is not just about putting an estate plan in place, it is designing the blueprint from which a legacy will be established. It also requires periodic reassessment to ensure it reflects changes such as life events, market and regulatory changes, and evolving legacy objectives. Developing an effective estate plan may not only reduce estate costs and taxes, it can also lessen the likelihood of family conflict and preserve wealth for future generations. Keeping these objectives in constant view and gathering an effective team of advisers can help ensure the success of this ongoing planning process.

Download the individual income tax planning section
Download the foundational wealth transfer planning section

Philanthropic planning

Tax policy update

Your legacy is not only how you want to be remembered, but should also comprise a set of guiding principles your family will be encouraged to uphold. Philanthropy can play a large part in establishing your legacy while delivering tax benefits in the process. The path to tax-efficient charitable planning is winding and complicated—particularly in today’s legislative environment. Matching your charitable vision to a real-world planned giving strategy requires thoughtful consideration and continued attention to detail to protect the deductibility of your contributions.

In this year’s philanthropic planning insights, we specifically address what you need to know about making charitable donations to relief organizations serving those locations hit hard by recent natural disasters.

While Congress has made recent progress toward tax reform, the end destination remains a moving target, as does the timing to get there. Despite the stated expectations of congressional Republican leaders that tax reform will be enacted by the end of this year, some are speculating that action on tax reform could slip into 2018. Our tax policy update provides an overview of the key provisions in the House bill of interest to upper-income individuals. It also looks at some of the political and policy challenges ahead as the legislative action turns to the Senate.

Download the philanthropic planning section
Download the tax policy update section

Bonus section: Tax-related identity theft

All too often a taxpayer discovers when filing their tax return that someone has already fraudulently filed a tax return under their name. This is tax-related identity theft. It occurs when someone uses your personal information—such as your name, Social Security number, or other information—without your permission to file a tax return claiming a fraudulent refund. This bonus section closely examines this pervasive issue to uncover the warning signs, offer approaches for mitigating your individual risks, understand what the IRS is doing to prevent tax-related identity theft, and inform you of the steps to take should you become a victim.

Download the tax-related identity theft section


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