2021 Tax Planning – Estate Taxes

As Your Tax Professionals and Trusted Advisors,
CAS is The Hub of Your Important Wheel. 

We should be talking to all your Spokes!  We will work with your attorney, your financial planner, your banker, your insurance agent, etc…..all the people you depend on to help you keep more of your hard-earned money.

When your advisory team works together, things run faster and smoother, and strategies are easier to identify and execute. This includes tax planning, financial planning and estate planning.  Introduce us to your Spokes so we can share critical documents, collaborate and set you up for greater financial success.   No matter the size of your business, your Hub and Spokes will help you create more wealth for your future.

Our current economic environment, and guaranteed higher taxes and inflation, make it more important than ever to insure your team of professionals protect you, your money and your family’s financial future.

Your advisory team is here to give you advice and recommendations. Strategies can also take time to implement, so working through them now can help put you in the best position to react to potential tax changes.

ESTATE TAX CHANGES COMING

Many are concerned that the lifetime estate and gift tax exemption will  decrease to  potentially as low as $1 million.   Gifting assets to your children or into a Trust this year can allow you to use the exemption while the exemption is still high. Gifts made under current law would be grandfathered in.

Note that on January 1, 2026, the exemption will automatically decrease to $5.49 million (albeit adjusted for inflation), which makes it critical to begin planning your gifting strategy now. However, there is talk of moving these dates up and lowering the exemption even further.

If we are already involved with your Spokes, great!  If not, introduce us.  If you need Spokes to keep your wheel rolling smoothly, let us know.  We can refer you to people we trust to help you.