Tax / Estate & Wealth Planning
Showing 1729–1744 of 2177 results
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Is your estate liquid enough to cover estate taxes?
August / September 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 664
Abstract: Unless an estate plan provides sufficient liquidity to pay estate taxes and other expenses, it may be at risk. This article examines various liquidity tools, including irrevocable life insurance trusts (ILITs); buy-sell agreements; IRAs, 401(k) plans and other tax-advantaged retirement plans; and traditional investments in stocks, bonds and mutual funds. If those liquidity tools prove inadequate, there are several postmortem strategies that heirs can use to soften the blow of estate taxes.
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Estate planning 101 — Choosing a trustee for your living trust
August / September 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 688
Abstract: Transferring assets to a living trust can help ensure an estate will avoid the time-consuming, potentially expensive and public process of probate. One can serve as the trust’s trustee during life, but must choose a trustee to oversee and administer the trust after death. This article describes the duties of a trustee and the two types of trustee to choose from. It also notes the importance of providing guidance from the start.
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Decanting breathes new life into an old trust
August / September 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1064
Abstract: “Decanting” can breathe new life into an irrevocable trust. This process allows a trustee to use his or her distribution powers to “pour” funds from one trust into another trust with different terms, thereby providing the trustee with added flexibility to adapt a trust in light of changing tax laws or family circumstances. But decanting laws vary dramatically from state to state. This article describes some of these differences and their effect on estate planning goals. A sidebar mentions a few of the tax implications of decanting.
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Are taxes lowering your investment returns?
July / August 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 1053
Abstract: When it comes to investments, it’s after-tax returns that really count, not what’s earned before taxes. This is an even more critical issue for higher-income taxpayers, now that they face higher income tax rates (up to 39.6% on interest and short-term capital gains and 20% on qualified dividends and long-term capital gains) plus the 3.8% Medicare contribution tax on net investment income to the extent their modified adjusted gross income (MAGI) exceeds certain levels. This article takes a look at a few strategies to boost posttax results: contributing to tax-advantaged accounts, investing in municipal bond funds or in tax-efficient (as opposed to tax-free) investments, and considering timing when selling an investment. It also includes a chart showing how the 2014 tax increases are triggered based on varying factors.
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MRD reminder
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 67
Abstract: This one-paragraph article reminds taxpayers turning age 70½ that they’ll be required to take their first minimum required distribution from a traditional IRA.
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Deferring taxable gain with a like-kind exchange
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 460
Abstract: Nontaxable exchanges of real estate give taxpayers an alternative to taxable dispositions and can provide federal income tax benefits. This article lists situations in which nontaxable like-kind exchanges should be considered, offering a specific example of one such instance: when a taxpayer wants to generate retirement income.
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2013 HSA limitations
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 198
Abstract: Health Savings Accounts (HSAs) were created as a tax-favored framework to provide health care benefits mainly for small business owners, the self-employed, and employees of small to medium-size companies who do not have access to health insurance. This brief article explains how an HSA works and provides 2013 figures for deducibles, out-of-pocket expenses, and tax deductions.
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Charitable donations of publicly traded securities
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 500
Abstract: Taxpayers with appreciated securities positions may be able to save on federal taxes by donating the actual securities (for example, stocks) held more than one year (long-term gain securities) to a qualified charity rather than selling the securities and donating the cash proceeds. This article explains why, and offers a specific example. But it notes that planning is essential in determining when to donate appreciated stock.
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Estate Planning Red Flag — You and your spouse have a joint revocable trust
July / August 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 425
Abstract: In both community and non-community-property states, joint trusts offer many of the same benefits as separate trusts — including probate avoidance, guardianship avoidance, privacy, and asset management in the event of a spouse’s incapacity. But they don’t provide the same level of creditor protection as separate trusts. As this article explains, those living in a community property state should weigh the asset protection benefits offered by separate trusts against a joint trust’s tax benefits. And those living in a non-community-property state also need to consider the potential tax pitfalls of a joint trust.
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No time like the present — With favorable estate tax and real estate environments, use a QPRT to give away your home
July / August 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 732
Abstract: A qualified personal residence trust (QPRT) can be an effective tool for transferring a home to children or other family members at the lowest possible tax cost — while continuing to live in it. And given the current favorable estate tax environment and depressed real estate market, now may be the ideal time to establish one. This article explains the benefits of QPRTs and lists several factors that have created a favorable environment for them.
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Owning life insurance can make estate planning complicated
July / August 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 585
Abstract: A life insurance policy can be an important part of an estate plan. The policy can provide a source of wealth for one’s family income-tax-free, and it can supply funds to pay estate taxes and other expenses. However, those who own their policy, rather than having, for example, an irrevocable life insurance trust (ILIT) own it, will have to take extra steps to keep the policy’s proceeds out of their taxable estate. As this article explains, an irrevocable grantor trust can be one way of doing that.
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Is your estate plan flexible? — Estate tax law uncertainty requires options
July / August 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1180
Abstract: Absent congressional intervention, on Jan. 1, 2013, exemptions will greatly decrease and tax rates greatly increase. Many people are taking advantage of the current generous gift tax exemption by shifting as much wealth as possible to their heirs this year. But it’s also important to build flexibility into an estate plan so that it can be quickly adapted to future changes in the law. This article discusses two options in particular: the qualified disclaimer and the credit shelter trust. A sidebar explains why, when using the latter tool, it’s important to carefully draft formula clauses to ensure that they account for every possible contingency.
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Tax Tips
July / August 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 478
Abstract: This set of news briefs looks at tax traps that can quickly wipe out the potential benefits of an alternative-asset IRA; the often-overlooked manufacturers’ deduction; and whether frequent flyer miles are taxable. Citation: Taproot Administrative Services, Inc. v. Commissioner, No. 10-70892 (9th Cir. 3/21/2012).
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Consider the tax issues when buying or selling a business
July / August 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 585
Abstract: Those who are buying or selling a closely held business need to consider a wide range of business, legal and financial issues. Although a sale’s terms should never be driven by tax considerations alone, taxes can have a significant impact. This article looks at a couple of important questions: If the business being sold is a corporation, should the parties structure the deal as a stock sale or an asset sale? And how should the purchase price be allocated among various assets? By understanding how taxes affect the economics of a deal, the parties can adjust the purchase price or terms accordingly.
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Tried-and-true tax strategies for tough economic times
July / August 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 587
Abstract: This article discusses three tax planning strategies for tough economic times: converting a traditional IRA to a Roth IRA; selling poor-performing investments to “harvest” the losses to offset net gains; and gifting assets or making intrafamily loans. But no strategy is right for everyone, so it’s important to work with a tax advisor to maximize opportunities while avoiding pitfalls.
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Estate tax uncertainty — Why you need to act soon
July / August 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1133
Abstract: It’s essential to review one’s estate plan as soon as possible, because many federal gift, estate and generation-skipping transfer (GST) tax-saving strategies may no longer be available next year. This article discusses scheduled changes to exemption amounts and tax rates and the elimination of exemption portability, along with the possibility of reduced or even eliminated benefits associated with short-term grantor retained annuity trusts, intentionally defective grantor trusts and family limited partnerships (FLPs). But taxpayers can take steps to build flexibility into their plans, regardless of what Congress may or may not pass. A sidebar lists the president’s estate tax proposals.