KPMG has released its 2018 Personal Tax Planning Guide with information about the current tax laws and guidance to help privately held businesses, business owners and their families deal with the uncertainty of upcoming tax reforms.
The guide was developed by tax professionals from KPMG’s Washington National Tax practice. It focuses on individual tax planning, investment-related tax issues, family matters and retirement planning, along with information on business expense substantiation, bonus depreciation, and estate and gift planning for interests in family-controlled entities. Each chapter comes with a quick overview of the applicable tax rules and planning tips.
“The recently released Unified Framework for Tax Reform distributed by the White House and Congress contains numerous proposals that could significantly impact the tax profiles of business owners and other executives,” said Bill Jackson, national partner in charge of KPMG’s Closely-Held Businesses and Owners Network, in a statement. “Our 2018 Guide is designed to be a resource that can help individuals connected with privately held and family businesses identify and address the various scenarios that may lie ahead with tax reform.”
The guide helps taxpayers with goals such as leveraging tax benefits to which they are entitled, preserving investment returns, structuring charitable giving to make the most of their donations, protecting and securing support for their dependents, preparing for a secure retirement, and forming and sustaining a successful business.
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