Proposal a “guidepost” for tax writing committees. Plan cuts income tax brackets to three from 9. Would eliminate Estate/Generation Skipping Tax, Alternative Minimum Tax AMT. Estimates put AMT break at $800B and Estate Tax at $250+B. No specifics provided. Plan allows Congress the power to write a new top personal income tax bracket. Plan provides for repatriation of off shore funds with lowered 1x tax liability. Includes discussion of increased capex writeoffs over 5 years for small business. No revenue offsets offered. By statute limited to 10 years before sunset if not provide offsets. Will keep you updated as more information becomes available. Call with questions or concerns. /djs
About Don Sweet, Esq. AEP
Don Sweet heads the San Francisco office of Rodnunsky & Associates. Don Sweet serves clients through counsel and advocacy. Whether planning an inter-generational wealth transfer strategy, adminstering the details of a trust or defending the rights of a beneficiary, Don’s efforts and focus are client centered. He is determined in pursuing client rights. Understanding the importance of value in professional service relationships, Mr. Sweet delivers creative, realistic and cost-effective solutions. With a deep and varied planning background, he works with those who seek protection of family and wealth in all areas of estate planning. Mr. Sweet holds the Accredited Estate Planner? (AEP) designation from the National Association of Estate Planning Councils. He earned his undergraduate degree from Arizona State University and earned his law degree from Whittier College of Law where he was a member of Law Review. He externed for the Honorable John Ryan, a Federal Bankruptcy Judge and Chief Judge of the U.S. Bankruptcy Appellate Panel for the 9th Circuit. Mr. Sweet has worked with private clients since 1997 and joined the California Bar in 2005.
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