2023 Marcum Year-End Tax Guide

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THE MARCUM YEAR-END TAX GUIDE 2023

“As the tax environment remains fluid, so too must the strategies employed by those seeking to optimize their financial outlook.”

Consult your Marcum tax professional to discuss gift, estate, and income tax planning strategies that may suit your unique facts and circumstances. Future-Proofing Your Wealth: The Imperative of Proactive Tax Planning As the tax environment remains fluid, so too must the strategies employed by those seeking to optimize their financial outlook. Proactive tax planning becomes paramount with the federal exemption set to revert to pre-2018 amounts post-2025 and the influence of rising interest rates. Leveraging instruments like the SLAT, CRT, and QPRT, among others, can offer tangible benefits to taxpayers. Additionally, the potential of the 65-day election underscores the necessity to stay informed and agile. In these ever-evolving times, consulting with tax professionals and staying abreast of federal and state tax nuances ensures that one is best positioned to protect and grow their assets for future generations.