Planning Now for Possible Rate Changes Might Mean Big Savings
Planning ahead for possible changes in tax policy could positively impact your wealth management goals.
Managing Wealth Amidst Potential Tax Policy Changes
Potential tax policy changes and their effects on building and transferring wealth: 8/28/2020 webinar.
Working from Home These Days? IRS Might Allow a Deduction
Working at home due to the pandemic? A quick summary of rules around receiving a related tax deduction.
Tax Filing and Payment Extension
The IRS extends tax filing and payment deadlines from April 15 until July 15.
2019 Tax Information Details & Timing
AMG National Trust plans to mail out 1099-B, 1099-DIV, 1099-INT and 1099-MISC statements for the 2019 Tax Year as follows. Accounts holding investments with all necessary tax information received are expected to be printed and mailed by February 13, 2020. Clients should expect to receive them the week of February 17, 2020, depending on the…
Tax Perspectives Update for 2020
With the passing of the Consolidated Appropriations Act of 2020 in December, a number of tax law changes were made that may affect individual taxpayers.
Supreme Count Ruling Positive for Trust Beneficiaries in NC
The taxpayers won this one—at least in North Carolina. That was the result of a rare unanimous U.S. Supreme Court decision on June 21, 2019, that rejected North Carolina’s claim that it can tax the undistributed income from a non-grantor trust based in another state if the beneficiary is a North Carolina resident. A New…
Considering a Move to Save on State Taxes?
Now that the federal deduction for state and local taxes is gone, should I consider changing residency from my high income-tax state to one with lower or no state taxes?
Opportunity Zones Offer Big Benefits & Big Challenges
The Opportunity Zone investment program ushered in by the 2017 Tax Cuts and Jobs Act provides an unprecedented ability to reduce capital gains taxes. If an investor realizes and rolls a capital gain into a Qualified Opportunity Fund (QOF) this year and holds the investment for 10 years, he or she gets a step-up in…
Beware of Tax Refund Scam, IRS Warns
A new refund scam has emerged that threatens to ensnare thousands of unwary taxpayers who use direct deposit.