Historic Opportunity to Avoid Tax on Over $10 Million+ of Assets
Historic Opportunity to Avoid Tax on Over $10 Million+ of Assets Every year, we remind our clients that year-end gifting is an easy, tax-efficient way to reduce their taxable estate. This year,...
View ArticleHistoric Opportunity Until December 31, 2012 to Avoid Tax on Over $10...
In addition to taxing your income during life, and your estate at death, the IRS also can tax gifts you make. The rationale is to prevent someone from giving his or her assets away in order to avoid...
View ArticleThe Care and Feeding of Family Limited Partnerships (FLP)
FLPs are complicated structures, and we want you to implement your FLPs properly. Carelessness and failure to abide by formalities may lead to a creditor undoing, or the IRS challenging, many of the...
View Article2013 Year End Notes, Part 1: Year End Tax Planning / Historic Opportunity to...
As the year comes to a close, we take this opportunity to remind our clients, colleagues and interested parties of several important issues that might impact upon their tax, estate and asset...
View ArticleLLC/FLP Discounting and Leveraged Gifting to Lower Estate Tax May Soon Be...
This summer, an IRS executive publicly commented that the IRS will soon be introducing new regulations that will seriously limit discounting of interests in Limited Liability Companies (LLCs) and...
View ArticleFederal Estate Tax Changes: New Estate Reporting Requirements, and...
There are significant new procedural changes that were implemented into law this summer as part of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015. Among the...
View ArticleYear-End 2015 Tax Planning: Take Advantage of Gifting to Lower Estate Tax –...
Each year end, we remind our clients about year-end gifting of Family Limited Partnerships and Limited Liability Company (LLC) interests in order to achieve tax minimization. This year, however, the...
View ArticleYear-End 2015 Tax Planning: Proposed Income Tax Revisions Mandate Timely Tax...
There have been many recent proposed changes to tax laws and regulations. Planning ahead of these changes is crucial. President Obama’s proposed 2016 budget includes changes that would eliminate...
View ArticleNew IRS Regulations Eliminate the Ability to Discount the Value of FLP and...
This month, the IRS finally issued proposed regulations that will eliminate (or severely limit) the ability to discount the value of transfers of interests in closely held entities (FLPs, LLCs, family...
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Year-End 2016 Tax Planning, Year-End Gifting & 2017 Tax Changes
Each year, we begin our end-of-year suggestions with a reminder to clients who own FLPs, LLCs and family business ventures, that they should take advantage of year-end gifting to lower estate taxes....
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