Tax / Estate & Wealth Planning
Showing 1809–1824 of 2177 results
-
Tax Tips
January / February 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 467
Abstract: This issue’s “Tax Tips” clarifies ambiguous regulatory language that has created confusion about the early-withdrawal penalty for retirement plan distributions. It shows how a charitable remainder trust can be a powerful investment tool, and why, in this difficult economy, an installment sale might help buyers and sellers close a sale of a business. Citation: (Watson, TC Summ. Op. 2011-113)
-
3 essential estate planning strategies not to be ignored
January / February 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 574
Abstract: This article discusses three essential estate planning strategies: taking advantage of the annual gift tax exclusion; using an irrevocable life insurance trust (ILIT) to buy and hold one’s life insurance policy; and placing assets in a credit shelter trust.
-
S corporation shareholder-employees: Are your salaries high enough?
January / February 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 355
Abstract: Because S corporation shareholder-employees aren’t subject to self-employment taxes on their share of the corporation’s income, minimizing their salaries and maximizing income distributed to them in the form of dividends can save significant payroll taxes. But the IRS casts a wary eye on such salaries. This short article explains what to do to keep salaries reasonable; otherwise, the IRS may recharacterize a portion of dividends as wages and present the company with a bill for unpaid payroll taxes, interest and penalties.
-
Get ready for new Medicare taxes
January / February 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1365
Abstract: Beginning in 2013, higher-income taxpayers are scheduled to be subject to additional Medicare taxes, including a 3.8% tax on investment income. This is a dramatic departure from current Medicare taxes, which are limited to wages and self-employment income. This article explains how the new taxes will work, and defines what will and what won’t constitute investment income. It also lists strategies for reducing or eliminating the new tax. One sidebar notes that, in many cases, the taxes will have a bigger impact on married couples than on single taxpayers. Another sidebar offers a table showing how income and capital gains tax rates will change in 2013.
-
What does 2012 hold for your personal financial standing?
January / February 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 523
Abstract: The new year is a good time to reassess one’s personal financial standing for 2012. As this article explains, it begins with a measurement of personal net worth. It’s also important to evaluate one’s amount of homeowners and life insurance, along with contributions to retirement and health accounts.
-
Money doesn’t grow on trees — Help your children acquire a saving and investing mindset
January / February 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 550
Abstract: It might be tough to convince children who are growing up in relative affluence of the importance of saving and investing. But they can have a rude awakening once they’re on their own. This article offers tips for teaching children how to respect the value of money. This includes having them earn their own money; showing them the value of compounding; and letting them help build an age-appropriate portfolio.
-
Exemption portability not all it’s cracked up to be — Create a credit shelter trust as an alternative
January / February 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 829
Abstract: Married couples who are concerned about estate planning have probably heard about how the 2010 Tax Relief act provided for the “portability” of the estate tax exemption. But, without congressional action, gift and estate tax exemptions will decrease and tax rates will increase — and the portability of exemptions will expire, thereby increasing possible exposure to estate tax liability. However, as this article explains, a credit shelter trust can help protect assets.
-
What to do when a fund manager leaves
January / February 2012
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 993
Abstract: It might be tempting to sell a fund undergoing a portfolio manager (PM) change, but it pays to be cautious, and decide whether the fund can likely continue to deliver the kind of performance that originally made it attractive. In making this decision, it’s important to ask a number of questions: How important was the PM to the fund? Was he or she a “lone wolf” or part of a team? Has the management style changed? Does the new PM have the requisite experience for the kind of fund he or she will be managing? This article addresses these questions, while a sidebar notes that a PM’s “poor” track record can be deceptive.
-
Estate Planning Pitfall – You own assets jointly with others
Year End 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 329
Abstract: There’s a common misconception that owning a home or another asset jointly with your spouse or child is an effective way to transfer the asset. But joint ownership can have significant tax disadvantages. As this article notes, it can waste one spouse’s estate tax exemption. Or, if the property is owned jointly with a child, he or she could have control over the property, which exposes it to claims by the child’s creditors. Income taxes can also be a concern with joint ownership.
-
Semantics matter – When using ascertainable standards, precise language is a must
Year End 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 651
Abstract: If a trust includes the use of ascertainable standards (which limit distributions to amounts needed for a beneficiary’s health, education, support and maintenance), how the standards are drafted is critical to its success. As this article explains, ascertainable standards are objective, so they limit the trustee’s discretion and allow a court to determine whether distributions are appropriate or should be compelled. But precision of language is important to head off disputes.
-
Leveraging the $5 million exemption – An installment sale to a defective trust is a powerful strategy
Year End 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: With the currently high gift and estate tax exemptions set to go down to $1 million after 2012, now is a good time to explore strategies for making the most of the present opportunity. One strategy to consider is a combination of two effective estate planning vehicles: the installment sale and the intentionally defective grantor trust (IDGT). An installment sale to an IDGT has the potential to transfer substantial value at little or no tax cost. This article explains how it works and how to design one.
-
Home economics: A QPRT can help you save taxes
Year End 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 976
Abstract: From a gift and estate tax perspective, costs are lower when an asset is transferred to beneficiaries sooner rather than later. But this creates a problem for those who want to continue living in their home indefinitely. An effective solution is a qualified personal residence trust (QPRT). When a home is transferred to a QPRT, its value for gift tax purposes is heavily discounted and any future appreciation is removed from one’s taxable estate. Plus, the transferor retains the right to stay in the home for many years. This article looks at the pros and cons of a QPRT, while a sidebar shows why it’s important to get the terms in writing.
-
Estate Planning Red Flag – You don’t know the value of your assets
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 308
Abstract: With the high gift and estate tax exemptions currently in effect ($5 million, or $10 million for married couples), one might think that estate valuations are less important. But even if an estate’s value is under the exemption amount, there are several good reasons to determine the value of the assets. This brief article lists several.
-
Postmortem affairs – What you need to do after a family member’s death
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 549
Abstract: Many find themselves at a loss regarding taking care of a loved one’s legal and financial matters after death. This article walks through the steps, including locating the loved one’s will or living trust document; conducting an inventory of assets and liabilities; and attending to life insurance and Social Security benefits.
-
At your own risk – The pitfalls of DIY estate planning
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 535
Abstract: With an abundance of online services that automate the creation of wills and other documents, it’s easy for a person to create his or her own estate plan. But unless the estate is small and the plan is exceedingly simple, the pitfalls of do-it-yourself (DIY) estate planning can be many. As this article explains, people often neglect the formalities — which can vary from state to state — associated with the execution of wills and other documents. Furthermore, DIY planning cannot be expected to take into account changes in the tax laws from one year to the next, which can have a dramatic impact on estate planning strategies.
-
Why the value of exemption portability is limited
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1162
Abstract: One notable change to estate tax law is the “portability” of gift and estate tax exemptions. Now, when one spouse dies, the surviving spouse can take advantage of the deceased spouse’s unused exemption. This means avoiding gift and estate taxes and achieving a stepped-up basis for one’s children with minimal estate planning. But this article shows that, in most instances, portability is no substitute for traditional estate planning. Besides several other reasons discussed, portability doesn’t protect assets from creditors or avoid taxes on appreciation. But a sidebar notes that, if one chooses portability, an executor must make an election on a timely filed estate tax return.