How the New Tax Law Affects Every Age

cradleAs always, two things remain constant: (1) you will get older every day and (2) you will get taxed all along the way. In this article, I’ll explain some key age-related tax and financial planning milestones to remember for you and your loved ones, taking into account changes included in the new Tax Cuts and Jobs Act (TCJA).

Under the dreaded Kiddie Tax rules, part of a young person’s investment income can be taxed at the federal rates for trusts and estates, which can quickly rise to 37% or 20% for long-term capital gains and dividends (see below).

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