Tax and wealth planning for your family and business

Welcome to the 2019 edition of PwC’s guide to tax and wealth planning. Even with a full tax year behind us under the landmark US federal tax reform, we continue to encounter a lot of questions and concerns, as well as interest in exploring the investment considerations that changes to tax laws can create. That’s why we continue to update our annual guide to help you have a fuller understanding of how the rules and incentives work, and interrelate.

High-net-worth individuals will pass along wealth someday just as they pass down values now. Managing wealth can be particularly complex as policies and tax laws change. Employing financial, legal, and tax professionals can help, but families must be vigilant in understanding and evaluating their work.

Intentional care in managing your family’s wealth delivers peace of mind in knowing that your family’s future will be secure. Thank you for registering with us. We plan to share updates on tax reform that could affect you as they happen throughout the year.


Brittney Saks
US Personal Financial Services Leader


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2019 Tax and wealth planning topic highlights

Effective tax planning

Business owners have alternatives with deductions as a result of tax reform. Certain property may qualify for a 100% deduction, while applying Section 179 can accelerate deduction strategies. This section also covers the key components of the new 20% deduction for qualified business income (Section 199A) from a partnership, S corporation, or sole proprietorship. Individual taxpayers will find updates, such as how the new tax law affects Roth IRA conversions.

Crossing US borders

People are living, working and travelling abroad with increasing frequency, and may face unexpected tax consequences if they are unfamiliar with the rules. Under the foreign earned income exclusion, US taxpayers employed and residing outside the US can exclude from taxation up to $104,100 for 2018 and $105,900 for 2019 of foreign earned income, as well as exclude (or sometimes deduct) certain housing expenses, as long as specific criteria are met.

Business continuity and succession planning

There are certain basic but critical steps to promote continuity within the business and the family. Too often, however, such steps are skipped or postponed. Early planning will ensure that a family’s succession strategy is flexible enough to adjust course as circumstances change.

Estate and gift tax planning

You may find room to update your estate planning, given changes in the law and your needs. Tax reform doubled the exemption for federal estate, gift and generation-skipping taxes (GST) for 2018. Yet these increases are also scheduled to sunset (revert to 2017 law) in 2026, which raises possible ‘clawback’ concerns.

Managing your investments

Opportunity Zones—the program created by the Tax Cuts and Jobs Act of 2017 (TCJA) to promote growth within our nation’s disadvantaged communities—creates ways for investors to defer taxes on capital gains.

Risk management

Each year, increasing numbers of people are confronted with fraudulent schemes by those intending to obtain money or personal information. Learn more about the common tactics like telephone and email phishing and what to do about it.

Charitable giving

Donor-advised funds (DAFs) are rising in popularity. Why? In part because tax reform resulted in some individual contributors choosing to bundle their donations into one year in order to itemize deductions.

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Frank Graziano

Personal Financial Services Leader, PwC US

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