How the Wealthy Should Plan for Taxes Under Trump - McDermott Will & Emery

How the Wealthy Should Plan for Taxes Under Trump

Overview


Carlyn McCaffrey said that, because Donald Trump’s plan to limit itemized deductions may significantly hinder wealthy individuals’ charitable deductions, such persons should accelerate the deductions into 2016. By contrast, she continued, Trump’s plan to cut the top tax rate suggests deferring until 2017 a transaction that would realize substantial gains or income.