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December 9, 2016

The holiday season is a time of giving. However, before you set plans into motion, it’s important to understand the tax advantages – as well as the possible complications – that are associated with gifting assets to family, charities and institutions.

That’s why we compiled the infographic below from the CBIZ 2016 Individual Tax Planning Supplement that details our top gift and estate tax planning ideas to consider. Please remember that these and other planning strategies need to be executed in the context of balancing who controls the assets and who benefits from the assets.

Note that some of these opportunities – specifically the ability to use valuation discounts in certain situations – are subject to revision by Congress and the IRS, so it’s important to start thinking about your gifting strategies now.

For other tax strategies, contact your CBIZ tax professional, or check out the CBIZ website and the rest of the Individual Tax Planning Supplement as a comprehensive guide to minimize your 2016 tax bill.






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