Deloitte Private: 2021 Essential Tax and Wealth Planning Guide

Deloitte Private has released its 2021 Essential tax and wealth planning guide. The introductory summary is as follows:

Despite the lack of clarity at this moment on what changes tax reform may bring, it is time to bring your overall tax goals into focus again and examine whether there are any steps that you should consider to advance your goals. Earlier this year, we discussed how political and economic considerations could affect tax legislation as it moves through the legislative process and issued a perspective on how to plan in a potentially increasing income tax rate environment.

Deloitte’s 2021 Essential tax and wealth planning guide continues our examination of the interplay between the entity and the owner of family enterprises. Whether you own an operating business or a family office or are an individual with an investable pool of capital, we hope to provide new lenses through which you can look to determine your next steps for the last quarter of this year and next year, such as:

  • Tax policy: Learn more about potential legislative changes, when they might take effect, and how the political landscape may shift as the legislation takes shape.

  • Family enterprises: Examine how to integrate the various perspectives, goals, and dynamics of the family enterprise, which could encompass a high-net-worth family, their operating business, or even a family office.

• Philanthropy: Consider how to navigate the donation of a closely held business to a family foundation and other charitable planning considerations.

• Passthrough entity taxes: This bonus feature provides a high-level overview of newly enacted or proposed state entity-level taxes and potential issues to consider for both the entity and the owner of a partnership or S corporation.

As we look out on the horizon, the tax landscape for 2022 continues to take shape. Tax planning is not just a year-end discussion, but more of an evolution over time that often requires reexamination to bring it into focus and align it with your goals. We hope that the insights provided in this year’s Guide will help you with that process.

To find a member of the Deloitte Private Wealth practice who specializes in your area of interest, please contact us at


Wendy Diamond

US Family Enterprise Leader Deloitte Tax LLP

To download the full report, click Deloitte Private: 2021 Essential Tax and Wealth Planning Guide.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

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