TAG Tax

Tax planning for high-net-worth individuals has never been one size fits all. But since the signing of the Tax Cuts and Jobs Act (TCJA), those in the higher brackets are concerned that losing key deductions and other changes will leave them worse off. Is that really the case?

While it’s true changes to some coveted tax items stand to impact this class of taxpayers, Sue McGovern, co-chair of Cohen & Company’s Family Wealth Group, says it’s the totality of deductions and changes to the law that has to be considered to know where taxpayers stand.

Below is an interview adapted from Taxonomics magazine in which McGovern shares why not to assume the worst and how taxpayers may even help bring out the best in the TCJA.

Read the entire article.