How Wealth Planners and Advisors address the needs of clients who have assets over $1MM.
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Tax experts have found a way around the excess business loss cap by advising their clients to buy private planes. It’s an expensive purchase that can arguably be used principally for work -- unlike, say, a yacht or a mansion in the Hamptons.
The 2017 tax overhaul bill limited the amount of state and local taxes that taxpayers can write off, a change most acutely felt in high-tax states including New York, New Jersey, Maryland and California, where tax bills can easily exceed the...