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TAX PLANNING

Ways To Mitigate 2013 Taxes on Estates And Trusts

By The BIDaWIZ Team on March 5th, 2013 at 8:40 am

The American Taxpayer Relief Act of 2012 had some far-reaching consequences to the taxation of estates and trusts. Most wealthy Americans have been focused on the rising personal tax rates at the $400,000 level for single filers ($450,000 for married filing jointly). However, the income threshold is a lot lower for estates and trusts. How much lower? Let's just say the top tax rate starts to kick in at only $11,950 for trusts and estates. What can advisers and beneficiaries do to mitigate these higher taxes? .
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