Sound Tax Planning Strategies
Ben Franklin famously opined that few things are certain other than the inevitability of death and taxes. It’s a remark that continues to resonate today, more than 200 years later — and may be on your mind as you seek to minimize the tax impact of asset transfers to family members or others with whom you wish to share your wealth.
At Whitlock Canter LLC in Paramus, we have the knowledge of tax law needed to help you navigate these decisions effectively.
Give us a call to discuss your specific situation in a candid yet confidential consultation. We serve clients in both New Jersey and New York.
How are tax issues affecting you?
There are a number of different ways in which tax laws can affect wealth transfers, especially in New Jersey. This is because New Jersey is one of only two states that still have both a state inheritance tax and a state estate tax. In 2018, the New Jersey estate tax will be repealed. However, there will still be an inheritance tax in 2018 and forward.
For a substantial estate, federal estate tax considerations may also arise. The exemption amounts have changed significantly at the federal level in recent years.
Our firm offers a full range of services with tax issues, including:
- Inheritance tax planning — We can guide you through the complexities of state and federal laws that apply to inheritance.
- Tax audits — It isn’t only the IRS that can potentially audit tax returns. State revenue agencies can do so as well. Our lawyers can help you respond.
Take action to protect your interests
To arrange a consultation with an experienced tax attorney, call our office or contact us online.