income tax planning
Contrasting 1031 Exchanges with Opportunity Zones
Both are techniques used to defer capital gains taxes on the recent or planned sale of an asset. They can even potentially eliminate them over time, through a step-up in basis at death in the instance of the 1031 exchange or a 10 year holding period in the instance of the Opportunity Zone. Though there…
Read MoreUsing Charitable Remainder Trusts to Reduce Capital Gains Rates vs Income Deduction Planning
Charitable remainder unit trusts often are often recommended by professional advisors in situations involving clients who: 1) Are charitably inclined 2) Could use a significant income tax deduction to offset higher than normal taxable income in a given tax year or years. A typical design for this type of CRT might include: 1) A relatively…
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