Many deductions allowed to an individual for federal income tax purposes for certain expenses or costs incurred have been permanently eliminated, or suspended or limited until 2026 by the 2017 Tax Act(“Act”—also commonly known as the Tax Cuts and Jobs Act) for tax years after 2017.1The deduction under Section 164 for state and local income, sales, and property taxes has been limited to $10,000 annually for individual taxpayers including estates of decedents and non-grantor trusts3through 2025.
- Who We Serve
- Trust Services
- Alaska Community Property Trusts
- Incomplete Gift Non-Grantor Trusts
- Asset Protection Trusts
- Intentionally Defective Grantor Trusts
- Custodial Services for Individual Trustees
- Irrevocable Life Insurance Trusts
- Charitable Trusts
- LLC Administration for Private Placement Life Insurance
- Delegated Trusts
- Qualified Personal Residence Trusts
- Directed Trusts
- Self-Directed IRA & IRA Services
- Dynasty Trusts
- Self-Settled Trusts (a.k.a. Spendthrift Trusts)
- Generation-Skipping Trusts
- Special Needs Trusts
- Grantor-Retained Annuity Trusts
- Spousal Lifetime Access Trusts
- High-Balance Insured Cash Deposit Solutions
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