Tax / Estate & Wealth Planning
Showing 1745–1760 of 2177 results
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Salvage your “underwater” 529 plan
July / August 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 378
Abstract: This article discusses the case of “Mark and Susan,” who opened a 529 plan to help finance their daughter’s higher education. It seemed like a smart move at the time: 529 plans offer the opportunity for education savings to grow tax-free. But, after the recession, its value is less than the amount they’ve contributed to it. This article offers options for those in a similar predicament.
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Up in the air — With some estate tax provisions set to expire at year end, giving gifts is a solid strategy
July / August 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 623
Abstract: Without congressional action, the gift and estate tax exemptions will decrease and gift and estate tax rates will increase on Jan. 1, 2013. This means that two variables are working in favor of making gifts this year: 1) the high gift tax exemption and 2) the fact that the values of many assets are depressed. This article looks at some gifting strategies that may be useful.
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Investing through the economic cycle — Look for opportunities in different market sectors
July / August 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 992
Abstract: As most Americans have learned in recent years, the U.S. economy is cyclical, alternating between phases of expansion, when the economy is growing, and recession, when economic activity contracts. Some investors look for sectors and securities they believe will benefit at different stages of the economic cycle. But profiting from cyclical timing is harder — and riskier — than it seems. This article discusses factors to consider for those who decide to incorporate economic analysis into their investment decisions. A sidebar discusses four indicators of possible impending recession.
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“Dirty Dozen” tax scams
June 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 553
Abstract: The “Dirty Dozen” are the 12 most prevalent scams detected by the IRS. Taxpayers should take precautions to avoid these and other suspicious activities of scam artists. This article describes the scams that make up the IRS’s 2012 Dirty Dozen listing.
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S corporation profiles
June 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 539
Abstract: In certain business and tax scenarios, electing S corporation status for a business can be advantageous. In other scenarios it may not be beneficial. This article discusses some of the more common scenarios taxpayers may encounter in making their decision to elect S corporation status or use another entity structure for their business.
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Use a reverse mortgage as a cash resource
June 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 387
Abstract: When an older homeowner has significant equity in his or her residence and needs funds, but lacks the resources to make monthly payments on a conventional mortgage, a reverse mortgage might provide a solution. This article explains how a reverse mortgage works and notes who may benefit, but warns that expenses associated with a reverse mortgage are high.
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Tax-free exchanges of life insurance policies
June 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: A periodic life insurance review is essential to ensure life changes have not altered the original intent for purchasing a policy, cover new or additional requirements, address concerns about the financial soundness of the insurer, and deal with various other issues. However, replac-ing a life insurance policy can create adverse federal income tax consequences. But there’s a way to do so while ensuring that any gain or loss is not recognized currently for income tax purposes. This article explains how this “1035 exchange” works.
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Estate Planning Pitfall — You’re donating real estate to charity
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 374
Abstract: In the current real estate market, donating a property to charity may be an attractive alternative to selling it. But this brief article lists five potential tax traps to look out for, including failure to properly substantiate a donation and the ramifications of donating to a private foundation rather than a public charity.
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Transfer business ownership or remain boss? — Nonvoting stock lets you share the wealth without losing control
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 484
Abstract: For family business owners, estate planning can be a challenge. Often, most if not all of their wealth is tied up in the business, which creates a conflict between the desire to transfer ownership to the next generation and the desire to stay in control. One potential solution is to recapitalize the business into voting and nonvoting shares. This allows the separation of ownership succession from management succession, and can avoid conflict between children who are involved in the business and those who aren’t. As this article notes, 2012 might be an especially good time to transfer ownership.
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Keep family harmony when transferring a vacation home
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 709
Abstract: When deciding to transfer a vacation home, simply dividing it equally among children or other family members may seem like the fairest solution, but it can end up being an invitation to conflict and hurt feelings. Some family members may care more about keeping the home in the family than about any financial benefits it might provide. Others may prefer to sell the home and use the proceeds for other needs. This article discusses ways to resolve this conundrum, along with estate planning strategies available for those who don’t wish to give up ownership immediately.
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Conditions favorable for gifts — High exemption amount and low tax rate make 2012 the year to transfer significant wealth
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1233
Abstract: Gift, estate and generation-skipping transfer tax exemption amounts stand at a record-high $5.12 million. And the top rate for all three taxes is 35%, the lowest it’s been in many years. So, with these set to expire at the end of the year, now may be the time to transfer substantial amounts of wealth to family members tax-free. This article discusses several strategies to do so, including trusts, life insurance and family limited partnerships. But a sidebar warns of the possibility of a “clawback” — in which the IRS attempts to impose estate tax on previous gifts to the extent they exceed the date-of-death exemption amount.
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Reporting barter transactions
May 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 397
Abstract: Bartering is one of the most ancient forms of commerce and involves the trading of a service or product for another. Typically, no cash is exchanged in the transaction, and business owners can save cash by bartering to get the products and services they need. In any case, the fair market value of the goods and services exchanged must be reported as taxable income by both parties. This article looks at the procedures involved, whether the transaction takes place informally or through a barter exchange company.
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Excluding a residence sale gain following divorce
May 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 738
Abstract: A residence is often a married couple’s most significant asset. As a result, monetary and tax considerations for property settlements related to the marital residence are usually extremely important to divorcing taxpayers. In dividing up the marital estate, the marital residence is usually disposed of in one of three ways: The residence is sold as part of the divorce proceedings; ownership is transferred incident to the divorce; or there is a delayed sale of the residence. This article offers examples of how each arrangement works.
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IRS’s information on exempt charitable organizations
May 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 119
Abstract: The IRS recently launched a new online search tool entitled “Exempt Organizations Select Check.” This article explains how the tool can be used to seek information on exempt charitable organizations.
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Estate Planning Red Flag — You’re lending money to family members
May / June 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 377
Abstract: The simplest way to provide financial assistance to a child or other family member is to get out the checkbook and make a gift. But for those concerned about gift taxes, a loan may be preferable. Intrafamily loans must be structured and managed carefully to ensure that the IRS will treat them as bona fide loans rather than disguised gifts. This article explains that the U.S. Tax Court has identified seven factors to consider in determining whether a loan between related parties is legitimate.
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The conservation easement: Handle with care
May / June 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 722
Abstract: A conservation easement is an agreement to permanently restrict some or all of the development rights associated with a property. It can be a powerful estate planning tool, enabling donors to receive significant income and estate tax benefits while continuing to own and enjoy their property. So it’s no surprise that the IRS scrutinizes easements to ensure that they meet the tax code’s requirements. This article explains that the easement must meet one of four conservation purposes, describes the tax benefits, and lists common mistakes taxpayers make when donating easements.