Tax / Estate & Wealth Planning
Showing 1777–1792 of 2177 results
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Which planning strategies should unmarried couples implement?
April / May 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 751
Abstract: Married couples have available to them greater (and more advantageous) estate planning options than unmarried couples. Yet unmarried couples face many of the same estate planning concerns as married couples. So they must engage in special planning to ensure that their decisions regarding asset distribution and health care are carried out per their wishes. This article examines several estate planning challenges that unmarried couples must plan around, but also discusses one significant estate planning opportunity that gives unmarried couples an edge over married ones: a grantor retained income trust (GRIT).
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Due diligence required when taking charitable deductions
April / May 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 650
Abstract: It’s important to understand the tax implications of an estate plan that includes charitable contributions. The availability of income tax deductions for lifetime donations affects a contribution’s cost and, therefore, the amount one can afford to give without jeopardizing other estate planning goals. But, to ensure that contributions are deductible, it’s critical to monitor the tax-exempt status of the beneficiary organizations. This article discusses the steps involved.
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Make health care decisions while you’re healthy
April / May 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1057
Abstract: Estate planning isn’t just about what happens to assets after death. It’s also about protecting oneself and one’s loved ones, which includes having a plan for someone to make critical medical decisions in the event of one’s own incapacity. There are generally two ways of putting decisions in writing: 1) a living will and 2) a health care power of attorney (HCPA). This article describes the characteristics of each and explains why it’s a good idea to have both — or, if allowed by state law, a single document that combines the two. A sidebar discusses the importance of having a financial management plan in place and lists three traditional techniques for doing so.
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6 wealth management strategies in a low interest rate environment
March / April 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 726
Abstract: The Federal Reserve has stated that it plans to keep short-term interest rates “exceptionally low” until at least mid-2013. That’s music to the ears of borrowers but bad news for savers, who are saddled with historically low rates on savings accounts, certificates of deposit, money market funds and U.S. Treasuries. This article offers six strategies for savers, ranging from low-risk options, such as online savings accounts, to higher-risk dividend-paying stocks.
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Reporting foreign financial assets
March 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 522
Abstract: The IRS has implemented new regulations designed to uncover information on foreign assets owned by U.S. taxpayers. Where taxpayers have an interest in one or more specified foreign financial assets exceeding certain threshold amounts, additional information must be included in their tax return. This article explains “specified foreign financial assets” and the types of information that must be reported.
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Tax planning following a job loss
March 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 211
Abstract: Taxpayers dealing with a layoff or termination frequently overlook the tax consequences of events associated with their unexpected job loss. Yet, properly handling the tax aspects of this life-changing event could prevent a negative financial impact. This article discusses the tax treatment of severance pay, job placement assistance, moving expense reimbursements and distributions from a qualified retirement plan.
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Estate Planning Red Flag — You haven’t chosen the right executor or trustee
March / April 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 365
Abstract: No matter how much effort is put into planning an estate, the plan won’t work smoothly if the wrong executor is chosen — or, if a living trust, the wrong trustee. This article discusses four common mistakes people make when choosing an executor or trustee.
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Protecting trust assets when a beneficiary is also a trustee
March / April 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 645
Abstract: From an asset protection standpoint, generally it’s best to appoint an independent, professional trustee. But in some cases it’s desirable to name the trust’s primary beneficiary as trustee. This article explains why, but then goes on to describe ways to maximize a trust’s creditor protection, in order to help protect assets from a beneficiary’s potential mismanagement of the trust.
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HSAs — Dual benefits in one saving strategy
March / April 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 640
Abstract: In addition to being a viable option to reduce health care costs, Health Savings Accounts (HSAs) can positively affect estate plans because they grow on a tax-deferred basis. This article describes how an HSA works and the benefits it provides. It also compares HSAs with IRAs in regard to estate planning.
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Watch your step! — Step transaction doctrine can increase tax on FLP and LLC gifts
March / April 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1165
Abstract: Family limited partnerships (FLPs) and limited liability companies (LLCs) can allow the transfer of substantial amounts of wealth to loved ones at discounted values for gift tax purposes. But the entity must be treated as a legitimate, independent business, observing all business formalities. Otherwise, the IRS may conclude that the entity is a sham. It might then invoke the step transaction doctrine to collapse a series of transactions into a single transaction for gift tax purposes, dramatically altering the tax outcome. This article explains the doctrine, while a sidebar discusses the importance of filing proper documentation for an FLP or LLC.
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Tax Tips
March / April 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 489
Abstract: This issue’s “Tax Tips” discusses why the IRS is narrowing its definition of a limited partnership for passive activity loss purposes; how the VOW to Hire Heroes Act enhances the Work Opportunity tax credit for employers that hire unemployed military veterans through the end of 2012; and how to preserve tax deductions when mixing business with pleasure.
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Tax planning in litigation — How to ensure optimal tax treatment
March / April 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 452
Abstract: For those who are a party to a lawsuit or other legal proceeding, the taxability or deductibility of damages can have a big impact on the financial outcome. But, as this article explains, a little tax planning can help ensure the desired tax treatment. Much depends on the nature of the underlying claim: that is, whether compensatory damages are received as a result of personal physical injuries or physical sickness, injury to property, or illegal discrimination.
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Exploring the ins and outs of NOLs
March / April 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 642
Abstract: A net operating loss, or NOL, occurs when a business’s operating expenses and other deductions for the year exceed its revenues. And, although the name would seem to indicate that operating in a “loss” situation is negative, some benefit actually can come from a year in which there’s an NOL: a tax deduction. This article shows how an NOL can be carried back or forward and discusses the benefits that either method provides, depending on one’s particular situation.
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Family businesses — Now’s the time for estate planning
March / April 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1089
Abstract: The combination of historically low gift tax rates, historically high exemption amounts and favorable interest rates makes it an ideal time for family business owners to share the wealth. This article shows how a grantor retained annuity trust (GRAT) and a sale to an intentionally defective grantor trust (IDGT) can separate ownership succession from management succession and thus help owners transfer business ownership without giving up control, while also funding retirement. A sidebar discusses additional options for transferring family business interests to the younger generation.
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Rules to give by — When making charitable gifts, follow substantiation requirements
March / April 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 373
Abstract: Those who fail to follow the substantiation rules when making charitable gifts may end up losing tax deductions. The requirements aren’t difficult to meet, but it’s necessary to pay attention to the details before filing one’s income tax return. This article lists the requirements for cash and noncash gifts of various denominations.
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Turn rental real estate activity losses into tax benefits — But you must qualify as a “real estate professional”
March / April 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 873
Abstract: This article discusses the hypothetical case of “Pat,” who’s losing money on his rental properties. He would like to deduct his losses, but the passive activity loss rules are restrictive. However, if he falls under the IRS definition of a “real estate professional,” he can enjoy tax benefits by converting passive losses into nonpassive losses. The article discusses what constitutes “passive” activity and what it takes to qualify as a real estate professional.