A New Kind of Deduction: Advanced Planning Strategies for a Changed Tax Code

Jeff Levine joins us to break down one of the most surprising features of the new tax law: a brand-new type of deduction that could significantly change the way we think about AGI thresholds, phaseouts, and entity planning.

In this episode, we unpack how the latest changes in the tax code are opening up advanced strategies for clients, and where financial planners need to stay sharp to avoid stealth cliffs and missed opportunities.

Key Topics Covered:

• The new above-the-line deduction and who can benefit
• Planning around AGI phaseouts and stealth tax cliffs
• Leveraging non-grantor trusts for charitable and income planning
• Avoiding estate planning complacency amid exemption increases
• Rethinking entity structure in light of expanded QSBS rules

Resources:

• Planning after tax changes
• Podcast: BBB Crossover Special
• A summary for tax planning

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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