The Knight Watch — Tax Reform Update for High-Net-Worth Individuals

Tax attorney Joshua Odintz co-authored an article with Private Wealth Services attorneys Patrick Duffey and Katharine Griffiths alerting high-net-worth (HNW) individuals and their advisers to forthcoming changes in tax law that could affect their planning processes. The impending sunset of multiple provisions in the Tax Cuts and Jobs Act of 2017 (TCJA) means HWN clients and counsel should take stock of what's at stake and prepare to avail themselves of these provisions, such as lowered income tax bracket percentages, while they still can. In the article, the authors outline changes implemented under the TCJA, highlight what will expire at the conclusion of 2025, explain additional changes Democrats and Republicans have proposed and note other tax policy and enforcement topics to consider for tax planning purposes.

READ: The Knight Watch — Tax Reform Update for High-Net-Worth Individuals