January / February
Showing 1–16 of 651 results
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When does it make sense to fund gifts with retirement savings?
January / February 2024
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 344
Abstract: Under certain circumstances, funding gifts with retirement savings may provide a tax advantage. This short article talks about how making substantial gifts by the end of 2025 may enable wealthy individuals to lock in higher gift and estate tax exemptions before they expire.
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Trusts vs. LLCs – Protecting your assets from lawsuits and creditors
January / February 2024
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 576
Abstract: Two of the most effective asset protection vehicles are trusts and limited liability companies (LLCs). Which one is right depends on an individual’s circumstances and objectives. This article looks at the advantages and disadvantages of trusts and LLCs when it comes to cost, complexity, privacy and control.
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Digital assets are the 21st century estate planning challenge
January / February 2024
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 630
Abstract: If you haven’t included digital assets in your estate plan, they may not go where you want them to after you’re gone. This article suggests you conduct an inventory of digital assets, then talk to your estate planner about strategies. These might include writing an informal letter to your estate’s executor listing accounts and passwords or establishing a master password that gives your representative access to all your important accounts.
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The Section 529 plan: A versatile financial planning tool
January / February 2024
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 904
Abstract: Not only can Section 529 plans be used to save for college, but they offer some unique estate planning benefits. This article explains how contributions to 529 plans, like trusts, are considered completed gifts, so they’re removed from a contributor’s taxable estate. The article also discusses how the SECURE 2.0 Act has changed rules regarding overfunded plans. A sidebar lists options for excess 529 plan funds.
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Tax Tips – IRS delays Roth catch-up requirement for two years
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 300
Abstract: These brief tips explain a tax rule change regarding Roth account catch-up requirements; detail why taxpayers should still file a tax return even if they’re unable to pay the tax due; and explore whether individuals can deduct online sports betting losses.
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Saving made easy – Set aside funds for your children with custodial accounts
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: A custodial account may be the answer for parents who are seeking a tax-efficient way to help their minor-aged child save for college or other expenses. This article examines two types of custodial accounts and details their pros and cons.
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Spotlight on transfer pricing rules
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 688
Abstract: If a business expands its geographical footprint beyond state or U.S. borders, it’s important to understand the transfer pricing rules. In a nutshell, transfer pricing refers to cross-border pricing arrangements for transactions between related companies (including parent and subsidiary or brother-sister companies with a common parent) in different jurisdictions. This article explains why these rules matter and how they’re regulated.
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Are you liable for net investment income tax? Learn strategies to reduce the risk
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1031
Abstract: During the last several years, the 3.8% net investment income tax (NIIT) has ensnared a steadily increasing number of taxpayers. Why? Because when the tax was enacted 11 years ago it applied to “high earners” — defined as single filers with modified adjusted gross income (MAGI) over $200,000 and joint filers with MAGI over $250,000. Those thresholds have never been adjusted for inflation. As a result, the number of taxpayers liable for NIIT has more than doubled during that time. This article explains how the NIIT works and provides strategies to reduce it. A sidebar explores whether a Roth IRA conversion might reduce NIIT liability.
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Estate Planning Red Flag – You’ve left specific assets to specific heirs
January / February 2024
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 329
Abstract: When creating an estate plan, it may be tempting to leave specific assets to specific loved ones. Perhaps a person wants to give a child the family home or a stock that has sentimental and financial value. Unfortunately, by doing so the person risks inadvertently disinheriting other family members, even if he or she had gone out of the way to ensure that they’re treated fairly. This brief article explains the pitfalls of leaving specific assets to specific family members.
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Your beneficiary designations may be obsolete: Review and update as needed
January / February 2024
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 609
Abstract: For most people, a substantial amount of wealth is transferred to loved ones through beneficiary designations. Indeed, making beneficiary designations is an excellent tool for transferring assets that aren’t subject to probate, including IRAs and certain employer-sponsored retirement accounts, life insurance policies, and some bank or brokerage accounts. This article stresses the importance of reviewing and updating beneficiary designations after major life changes.
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Beware of tax traps when estate planning for non-U.S. citizens
January / February 2024
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 678
Abstract: For non-U.S. citizens, estate planning can be more complicated than for those who are citizens. The reason is that noncitizens must follow different gift and estate tax laws. This article explores how the tax laws differ for U.S. and non-U.S. citizens and notes potential tax traps.
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Married couples: Joint or separate trusts?
January / February 2024
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 928
Abstract: For married couples, one important decision is whether to use a joint trust or separate trusts. The right choice depends on their financial and family circumstances, applicable state law and other factors, so couples should discuss their options with their advisor. This article examines several factors to consider when deciding whether to use a joint or separate trusts. A sidebar discusses the cost of using an irrevocable trust.
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Buyback provision bites law firm partners
January / February 2024
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 431
Abstract: When crafting shareholders’ agreements, it’s important to incorporate the appropriate valuation language to ensure equitable shareholder buyouts. This article discusses a recent case in which two law firm shareholders were left in the cold after their firm merged. A New York trial court found they were owed only $100 each for their shares in the old firm. Laurilliard v. McNamee Lochner, P.C., No. 904245-22 (N.Y. Supr. Ct. June 29, 2023).
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Insurance fraud: Warning signs of potential scams
January / February 2024
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 598
Abstract: Although businesses potentially can become victim to a variety of schemes intended to bilk insurance companies and workers’ compensation funds, on-the-job injury and property-casualty fraud are the most common. This article highlights specific clues that fraud experts use to uncover dishonest behavior. In addition to investigating claims, these experts can help prevent such fraud from happening in the first place.
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FAQs about solvency opinions
January / February 2024
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 636
Abstract: Amidst ongoing economic volatility, a growing number of small businesses have become insolvent. What happens to a creditor if one of its customers becomes insolvent? Sometimes creditors of liquidating companies have trouble recouping what they’re owed. This article discusses common questions regarding solvency and how a solvency opinion can help creditors determine whether a liquidating debtor can meet repayment obligations.
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LCT Capital, LLC v. NGL Energy Partners LP – Court splits its verdict on admissibility of expert opinions
January / February 2024
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 905
Abstract: Financial experts are often called on to help clients determine economic damages in commercial litigation. In a recent damages-only trial for a quantum meruit case, the court tackled a slew of motions aimed at limiting the testimony of opposing damages experts. This article summarizes the court’s rulings, which shed valuable light on how attorneys and experts should approach such cases. LCT Capital, LLC v. NGL Energy Partners LP, No. N15C-08-109 MAA (Del. Superior Ct. Dec. 22, 2022).