Below is a list of 40 tax savings actions you can use in 2019 to save federal income taxes.  Some actions may require that you consult with an experienced tax accountant or tax advisor.  To read detailed descriptions of these tax savings ideas you must subscribe to my free LLC newsletter by entering your information in my LLC newsletter subscription form.

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Table of Contents

Chapter 1: Bracket Management Strategies

#1:  Bracket Management
#2:  Capital Gain Harvesting
#3:  Harvesting Capital Losses
#4:  Trusts as S Corporation Shareholders: ESBT vs. QSST

Chapter 2: Income Smoothing Strategies

#5:  Substantial Sale Charitable Remainder Trust (CRT)
#6:  Retirement Charitable Remainder Trust
#7:  Roth IRA Conversions
#8:  Oil and Gas Investments
#9:  Two-Year Installment Sale Strategy
#10:  Nonqualified Tax Deferred Annuities
#11:  Borrowing from Permanent Life Insurance Policies

Chapter 3: Income Shifting Strategies

#12:  Income Shifting Charitable Remainder Trust
#13:  Family Limited Partnership (FLP)

Chapter 4: Reducing Taxable Income Strategies

#14:  Tax-Aware Investing
#15:  Incomplete Gift, Non-Grantor (ING) Trusts
#16:  Captive Insurance Companies

Chapter 5: Specific Net Investment Income Tax Strategies

#17:  Inter Vivos Charitable Lead Annuity Trust (CLAT)
#18:  Grouping Business Activities to Create Material Participation and Avoid the NIIT
#19:  Choice of Filing Status to Avoid the 3.8% NIIT

Chapter 6: Wealth Transfer Strategies

#20:  Intra-Family Loans
#21:  Grantor Retained Annuity Trust (GRAT)
#22:  Dynasty Trust
#23:  IDGT Sale
#24:  Domestic Asset Protection Trust (DAPT)
#25:  Spousal Limited Access Trusts

Chapter 7: IRC Section 199A Planning

#26:  IRC § 199A Overview
#27:  Managing IRC § 199A Limitation Amounts
#28:  Choice of Entity Decision After the TCJA–Converting a Pass-Through Entity to a C Corporation
#29:  Using Multiple Trusts to Enhance the Benefits of IRC § 199A
#30:  Aggregating Trades or Businesses to Increase the § 199A Deduction

Chapter 8: Ten More Must Know Strategies for 2019

#31:  Trust Decanting
#32:  S-Election to Save Employment Taxes
#34:  Trusts Named as IRA Beneficiaries
#35:  Sale to an Intentionally Defective Grantor Trust (IDGT) with a Self-Cancelling Installment Note (SCIN) Hedge
#36:  Qualified Small Business Stock
#37:  Opportunity Zones
#38:  Puerto Rico Tax Incentives
#39:  Timing the NQSO Exercise Decision
#40:  Cost Segregation