The Critical Importance of Having the Proper Legal Structures in Place in Order for a Family Office to Endure for Multiple Generations with Tom Handler, Founder and Managing Partner of Handler Thayer, LLC.
Family Office World
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The New Tax Act With TCJA: What Is It?
Under previous law, a whole series of deductions that I'll pool into the category of for the production or preservation of income commonly referred to by professionals as section 212 expenses. In the past those expenses were difficult to get for high net worth families because they're subject to an adjuster gross income limitation. The provision is supposed to sunset in 2025 when theoretically these deductions will come back. It's probably too early to tell but they're certainly gone until 2025.
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