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Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The PATH Act, signed into law a little over a year ago, extended 50% bonus depreciation through 2017. Claiming this break is generally beneficial, though in some cases a business might save more tax in the long run if they forgo it. However, 2016 may be an especially good...

While it’s natural to set up trusts in the state where you live, you may be losing out on significant benefits available in more “trust-friendly” states. For example, some states: • Don’t tax trust income,• Authorize domestic asset protection trusts, which provide added protection against creditors’ claims,• Permit silent trusts, under which beneficiaries need not be notified of their interests,• Allow perpetual trusts, enabling grantors to establish “dynasty” trusts that...