Tax / Estate & Wealth Planning

Showing 1761–1776 of 2177 results

  • Are you familiar with fraudulent transfer laws?

    May / June 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 704

    Abstract: Because asset values are low and the gift tax exemption is high, now is a good time to transfer wealth. But it’s best to first check with an estate planning advisor about fraudulent transfer laws. This article explains that, if creditors challenge gifts, trusts, retitling of property or other strategies as fraudulent transfers, they can quickly undo an estate plan. Under the Uniform Fraudulent Transfer Act (UFTA), they can challenge transfers involving two types of fraud: actual and constructive. The latter is unintentional, yet can result in significant financial consequences.

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  • SCIN protection — Shield your estate from excessive tax exposure

    May / June 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1044

    Abstract: Those who have already exhausted their gift and estate tax exemption through lifetime gifts can use other techniques to transfer wealth to their loved ones tax-free. One such technique that’s particularly attractive now is the self-canceling installment note (SCIN). This article explains how a SCIN can provide income, gift and estate tax savings. But it involves a gamble, as well, so the article discusses the down sides. A sidebar notes that, to ensure that a SCIN’s cancellation feature isn’t treated as a gift, the donor must be compensated for its value in the form of a risk premium.

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  • Tax Tips

    May / June 2012
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 452

    Abstract: This issue’s “Tax Tips” looks at the tax implications of cross-border telecommuting; how to restrict distributions to a beneficiary through a trusteed IRA; and the importance of conducting a cost segregation study before certain asset acquisitions. Citations: Peco Foods, Inc. v. Commissioner, T.C. Memo. 2012-18 (1/17/2012).

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  • Make the most of real estate losses: Keep good records

    May / June 2012
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 533

    Abstract: The passive activity loss (PAL) rules make it difficult for rental real estate owners to deduct their losses unless they qualify as real estate professionals. And that demands accurate timekeeping records. This article discusses the PAL rules and what’s required to qualify as a real estate professional. Citation: Vandegrift v. Commissioner (T.C. Memo 2012-14, 1/12/2012).

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  • How can an estate plan be kept vital after death?

    May / June 2012
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 878

    Abstract: When a loved one passes away, one might think that the options for his or her estate plan have also been laid to rest. But that isn’t the case. There are postmortem tactics the deceased’s executor (or personal representative), spouse and beneficiaries can employ to help keep his or her estate plan on track. This article discusses qualified terminable interest property (QTIP) trusts; qualified disclaimers; exemption portability; the spouse’s right of election; special-use valuations; and alternate valuation dates.

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  • Deduct vs. capitalize — New regs offer guidance

    May / June 2012
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1005

    Abstract: When one is spending money on tangible business property — such as buildings and equipment — it’s important to pay attention to whether these expenditures are classified as maintenance or repair, for this can have a big impact on taxes. Sometimes, though, it’s hard to tell the difference between these types of costs. This article discusses new IRS regulations that provide guidelines on the improvement vs. repair question, taking into account special rules for buildings. A sidebar looks at whether deducting the costs of "refreshing" the appearance and layout of stores is permitted. Citation: Welch v. Helvering (290 U.S. 111)

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  • A blended family can benefit from a QTIP trust

    May / June 2012
    Newsletter: Planning for Prosperity / Wealth Management Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 398

    Abstract: This brief article examines the situation of “Ted and Barb,” each of whom has children from a previous marriage. Ted has significantly greater wealth than his wife, and he wants to be sure it ultimately will be distributed to his biological children per his wishes. But he also wants to provide for Barb and help her provide for her own children while they’re growing up. This article shows how a qualified terminable interest property (QTIP) trust can keep the family harmonious and balance these interests.

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  • Should you reinvest dividend income?

    May / June 2012
    Newsletter: Planning for Prosperity / Wealth Management Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 542

    Abstract: Reinvesting dividends can make your investments grow faster through compounding. For many investors, that is a compelling enough reason to do so. However, reinvesting dividends may not be a good call in all situations. For example, the dividend income might be needed to cover current spending needs. This article discusses both the pros and cons of reinvesting dividend income.

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  • Hands off! — 4 asset-protection strategies to consider including in your wealth management plan

    May / June 2012
    Newsletter: Planning for Prosperity / Wealth Management Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 783

    Abstract: When it comes to forming a comprehensive wealth plan, including asset-protection strategies is a must. Executed properly, they can reduce the chances of creditors and litigants gaining access to personal assets. This article looks at four specific strategies: reviewing insurance coverage; sheltering assets in retirement accounts; separating a business interest into different entities; and creating a trust.

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  • Retirement scenarios — Watch out for potholes that could sidetrack your plans

    May / June 2012
    Newsletter: Planning for Prosperity / Wealth Management Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1056

    Abstract: Medical advances have resulted in people living longer than they used to, so it’s reasonable to wonder if age 65 is still a realistic target age for retirement — especially now that the “full” retirement age for Social Security is older. Furthermore, a serious illness, accident or other misfortune could radically alter how long it may be possible to work. This article looks at some key factors to consider when contemplating various retirement scenarios, such as inflation, unexpected medical costs and maintaining adequate growth potential. A sidebar discusses Social Security benefits.

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  • Tax ramifications of owning a second home

    April 2012
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 438

    Abstract: Regardless of whether one uses a second home for personal or for investment purposes, planning for its tax implications will enable ownership of the property in the most tax-efficient way possible — or, if the purchase is somewhat tax driven, maximization of the allowable deductions the property generates. A second home can fall into one of three categories for tax purposes, depending on how it is used: personal residence, vacation home, or rental property. This article discusses the tax ramifications of each.

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  • Roth IRAs for kids

    April 2012
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 624

    Abstract: For those who have a child who works, it’s worth encouraging him or her to use some of the earnings for Roth IRA contributions. This article offers examples of how even modest contributions can grow to large amounts, and explains why a Roth IRA is generally preferable to a traditional IRA for those in this age group.

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  • IRS reopens Offshore Voluntary Disclosure Program

    April 2012
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 71

    Abstract: This one-paragraph article notes that the IRS has reopened the Offshore Voluntary Disclosure Program (OVDP) to help taxpayers hiding offshore accounts get current with their taxes.

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  • Taxpayer Advocate’s report

    April 2012
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 216

    Abstract: In her annual report to Congress, National Taxpayer Advocate Nina E. Olson identified the combination of the IRS’s expanding workload and declining resources as the most serious problem facing taxpayers. The result, the report says, is inadequate taxpayer service, erosion of taxpayer rights, and reduced tax compliance. This article discusses her concerns.

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  • 50% disallowance rule for meals and entertainment

    April 2012
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 339

    Abstract: Generally, only half of otherwise allowable business meal and entertainment expenses are deductible on one’s federal tax return. This article describes specific expenses that are or are not included and discusses the tax treatment of expense reimbursements or allowances under an accountable vs. a nonaccountable plan.

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  • Estate Planning Pitfall — A trust is the beneficiary of an IRA or retirement plan

    April / May 2012
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 410

    Abstract: If a person owns an IRA or participates in a qualified retirement plan such as a 401(k), it’s possible that he or she can have the assets distributed to a trust upon death. As illustrated in a recent IRS private letter ruling (PLR), however, to preserve the retirement account’s tax-deferral benefits, it’s critical to properly designate a trust beneficiary. This article lists the IRS requirements to have a trust beneficiary qualify as a designated beneficiary of an IRA or qualified plan.

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