2024 essential tax and wealth planning guide
Exploring the art of legacy and wealth management
Prepare for the possibilities a new year can bring with Deloitte’s 2024 Essential tax and wealth planning guide. In this release, we explore crucial aspects of family wealth and taxation—family office setup, tax policy, charitable planning and more—helping family enterprises plan with purpose and precision. Our 2024 tax guide will help give you solid footing in today’s evolving tax landscape, providing the guidance you need to preserve your family's legacy with confidence.
Key takeaways
- Prospects for a year-end tax bill are uncertain due to government funding struggles and policy differences. The short-term continuing resolution and potential for an omnibus spending measure create additional uncertainty.
- As the family’s wealth grows, often so does the complexity and need for professional management of important task. Those offices that embrace modernization will be best equipped to adapt.
- By engaging in strategic charitable planning—documenting reasons for giving, developing a mission, and creating focus areas for philanthropic goals—families can ensure that their diverse philanthropic interests can be pursued.
- Taxpayers should think about the tax implications at both the federal and state levels when deciding how to elect pass-through entity taxes in different states. They should also evaluate the total costs and benefits associated with their choices.
Pressing forward with confidence
In 2023, family enterprises still enjoy the benefit of relative certainty in tax laws, thanks to many of the provisions of the 2017 Tax Act which remain in effect through 2025. Our latest tax planning guide can help you plan for what is known and confidently move into the future. This year’s edition explores recent legislative updates, the family office setup, pass-through entity tax, and ways to accomplish your family’s philanthropic goals—insights that set you on solid ground as 2024 approaches.
Inside Deloitte’s 2024 Essential tax and wealth planning guide
Explore the guide's detailed sections to gain insights on how tax policy, family office structure, philanthropic endeavors, and pass-through entity taxation might impact your wealth management and tax planning tactics.
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