A key theme from the 2014 Advanced PFP Conference was the upheaval in tax planning from the changes in income and estate tax law and from the Affordable Care Act, writes Paula Hogan. Income tax planning now involves multiyear projections focused on bracket management and more attention to asset location; estate tax planning now involves close consideration of the merits of preserving a step up in basis at death; and the Affordable Care Act creates tax planning imperatives because of the premium subsidies, she writes.

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