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Tax tips for new millionaires seek to trim IRS bill
Wealth growth pushes more Americans into high tax brackets and AMT risk. IRS reports 144000 returns with AGI over 1 million in 1997, up from 1994. Experts from J P Morgan and firms Deloitte Touche and KPMG advise estate planning, stock option trusts, maxed tax deferred plans, careful tax-loss usage, municipal bonds, charitable gifts, and strategic transfers before end of year exclusions to reduce tax burden.
MENTIONED IN THIS ARTICLE
Washington
America
U.S
Spectrum Group
IRS
Joanne E. Johnson
J.P. Morgan
New York
Internal Revenue Service
Johnson
Deloitte & Touche
KPMG