277
Showing all 3 results
-
Moneylines: News briefs for businesses
June / July 2015
Newsletter: Trendlines
Price: $225.00, Subscriber Price: $157.50
Word count: 277
Abstract: This issue’s “Moneylines” informs business owners of: 1) recently released IRS tangible property regs for qualifying small companies, 2) results of a 2015 survey indicating moderated optimism regarding the national economy, and 3) an important deadline for companies that accept credit card payments — particularly on a “point of sale” basis.
-
Estate Planning Red Flag – You have an interest in or authority over a trust that holds foreign accounts
September / October 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 277
Abstract: During the last few years, the IRS has stepped up its enforcement of the Report of Foreign Bank and Financial Accounts (FBAR) rules. To discourage taxpayers from hiding foreign accounts, these rules require U.S. citizens, residents and entities to file annual returns disclosing financial interests in, or signature authority over, foreign bank and investment accounts with an aggregate value of more than $10,000. This article explains who is subject to FBAR reporting requirements and the kinds of interests that must be disclosed.
-
Estate Planning Red Flag – Crummey powers provide for withdrawal of a specific dollar amount
March / April 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 277
Abstract: A lifetime gifting plan that takes advantage of the $13,000 per recipient annual gift tax exclusion can be a powerful strategy for transferring wealth tax free. But the exclusion is available only for gifts of present interests. This can be a problem for contributions to trusts, which are generally considered gifts of future interests. This article discusses Crummey powers, which give trust beneficiaries the right to withdraw contributions for a specified period after they’re made, and which convert a future interest into a present interest that qualifies for the annual exclusion.