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Practical Tips for Estate Income Tax Planning in 2013 Podcast

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On January 1, 2013, Congress passed the American Taxpayer Relief Act just as the nation was going over the “fiscal cliff”.The Act eliminates much of the uncertainty that has existed in the estate and gift tax law for the last decade. It also puts in place important new thresholds, taxes, and income tax rates that will impact taxpayers (both individuals and businesses) in 2013 and years to come. The tax provisions of the Affordable Care Act add additional complexity to the current tax picture.

Now that your 2012 taxes are paid, it’s critical to start planning for tax year 2013 and beyond.  New tax laws present both opportunities and risks. In this podcast, Julie Bogle and Wrede (Bud) Smith will update us on recent tax law changes and provide practical planning tips to help minimize your estate and income tax exposure.

Julie M. Bogle, JD is a partner in Smith & Gesteland’s Tax Services Department. Her tax practice focuses on proactive individual and business tax planning. Julie is also is head of Smith & Gesteland’s High Net Worth Individual Service Specialty where she focuses on individual tax issues including income tax planning, estate and gift planning, retirement planning, and business succession. She also works extensively in tax planning related to divorce, stock option analysis, and other incentive compensation issues. Her experience with businesses includes sales and use tax planning and audit resolution, multi-state tax planning, cost segregation, and entity selection as well as other organizational issues. 

Wrede (Bud) Smith has more than 38 years of experience as an attorney, assisting business owners with various legal matters including estate and succession planning. His clients include small to mid-size corporations, family-owned businesses, family partnerships and LLCs, banks and trust companies, and individuals. Bud is a shareholder of DeWitt Ross & Stevens, a full-service law firm with nearly 90 attorneys serving clients locally and beyond from offices in Madison and Brookfield. Bud received his law degree from Northwestern University School of Law in Chicago. He and his firm are active sponsors of the Family Business Center at U.W. Madison, and for many years, Bud has taught classes on estate and succession planning at the U.W. Madison Business School.

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