Every year, there are steps that high-net-worth individuals, families, and business owners can take before December 31 to strengthen their wealth management strategies and lower their tax bill.
William Blair’s 2019 year-end planning guide is now available, highlighting 10 tax and wealth planning strategies stemming from the landmark tax reform law.
- Maximize your deductions
- (Re)consider a Roth conversion
- Don't overlook an HSA
- Understand the laws for establishing residency in a low-tax state
- Take full advantage of new lifetime giving opportunities
- Review your estate plan in light of major tax law changes
- Review and update your beneficiary designations
- Maximize the after-tax value of your business equity
- Look into opportunity zone investments and their potential tax breaks
- Check your withholding amount to avoid unpleasant surprises