January 04, 2017
Tax related numbers for 2016-2017, CME Group launches Bitcoin reference rate and real time index, 2017 individual tax filing deadlines, income tax rates and filing thresholds, estate and gift tax exclusion amounts, and more. Here’s what’s trending in estate planning and wealth management.
The CME Group has legitimized bitcoin’s use as a financial asset by creating a daily reference rate and a real-time index, aggregating price feeds from global bitcoin trading platforms and exchanges. This tool will provide much needed validation for the emerging asset class that is digital currencies.— Thomas A. Stedman
Here are the tax number changes (many based on mandated inflation adjustments) that you might find interesting and helpful for 2017 tax and estate planning (with 2016 comparative numbers). — Deborah L. Anderson and Mary M. Paul, EA
Mark your calendars so you don't miss a 2017 individual tax filing deadline.— Mary-Benham B. Nygren
What are the 2017 Income Tax Rates and Filing Thresholds?— Kelly Acevedo
It’s not too early to start gathering documents needed to prepare your 2016 income tax returns which are due on April 18, 2017.— Alyson L. Stevenson
Individual Taxpayer Identification Numbers (ITINs) are used by persons who are not eligible for a Social Security Number, like foreign nationals, but are required to make U.S. tax filings and payments. Under a new IRS policy, some ITINs are set to expire on January 1, 2017, if not renewed.— Christopher F. Caldwell
Irrevocable life insurance trusts are an estate planning vehicle designed to remove life insurance proceeds from the insured’s gross estate.— Julie M. Wood
A Dynasty Trust is a powerful tool for a grantor to leverage his exemptions from federal estate, gift and GST tax while leaving property in trust for multiple generations.— Kenneth F. Hunt
On an annual basis, the IRS determines whether the Gift, Estate and GST tax exclusion amounts will be adjusted. For 2017, two exclusions will be increased.— Mary-Benham B. Nygren
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