Tax / Estate & Wealth Planning
Showing 1873–1888 of 2177 results
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A simple strategy – Pair an IDGT and an installment sale to pass on your business
March / April 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 933
Abstract: For many people, a family business is a significant source of wealth, so passing it on to the next generation in a tax-efficient manner is an important estate planning goal. One of the simplest and most effective strategies available is an installment sale to an intentionally defective grantor trust (IDGT), thereby allowing the transfer of the business free of capital gains and gift taxes, and allowing any future appreciation in value to go to heirs estate-tax free. This article shows what to consider in setting up an IDGT, with a sidebar listing some specific pros and cons.
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Tax Tips – IRS rethinks position on uncertain tax positions – Maintenance vs. capital improvement: Are you overpaying taxes? – Don’t overlook reinvested dividends
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: In this issue’s “Tax Tips,” we discuss revised IRS rules that require some companies to report uncertain tax positions (UTPs) on their tax returns using Schedule UTP; why it’s necessary to distinguish between maintenance and capital improvement expenses to save taxes; and the importance of tracking reinvested dividends to avoid paying tax on them twice.
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Don’t let your good deeds go unrewarded
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 669
Abstract: U.S. tax law is generous in providing tax deductions for charitable gifts — but the donor must be able to substantiate each dollar or asset given in order to receive a deduction. This article discusses the documentation requirements for different amounts of cash and noncash contributions and when it’s necessary to obtain an appraisal.
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Filing for bankruptcy may keep the tax collector at bay
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 746
Abstract: There’s a common misconception that bankruptcy can never be used to wipe out tax debts. In fact, tax liabilities that meet certain requirements can be discharged in bankruptcy. This article offers a brief introduction to bankruptcy’s impact on taxes. It looks at the different kinds of bankruptcy, what taxes are dischargeable, and alternatives to bankruptcy.
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Need to purchase BOLI? – Here’s how to avoid being taxed
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 876
Abstract: Life insurance proceeds are generally exempt from income tax, but special rules apply to business-owned life insurance (BOLI). This article describes the benefits of BOLI, along with Internal Revenue Code Section 101(j) restrictions designed to combat perceived abuses. It also describes what companies using BOLI need to do to be sure that new and existing life insurance policies are in compliance. A sidebar discusses employee notification procedures that must be carried out before a BOLI policy is issued.
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Estate Planning Pitfall – You’re unsure whether life insurance proceeds will be tax free
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 220
Abstract: Typically, proceeds from life insurance policies are income-tax free. The bigger risk is that life insurance proceeds will be subject to estate taxes. This brief article discusses how having an irrevocable life insurance trust (ILIT) hold the policy can be a highly effective way to avoid estate taxes on life insurance proceeds.
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Can a SCIN allow you to reach estate planning goals?
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 642
Abstract: When creating or revising an estate plan, it’s important to consider the status of one’s health, because life span can affect certain strategies. Someone in good health doesn’t have to worry too much about the mortality risk inherent in, say, a grantor retained annuity trust. But someone whose health is on the decline and thinks they won’t reach their actuarial life expectancy should consider looking for alternatives with less mortality risk. This article considers a self-canceling installment note (SCIN) as an option.
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3 postmortem strategies that add flexibility to your estate plan
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 834
Abstract: In recent years, estate planning has been complicated by uncertainty over the future of the federal gift and estate tax regime. But even when estate tax rates and exemption amounts are predictable, changing family circumstances make planning a challenge. Fortunately, there are several postmortem strategies a family can use to ensure that the deceased’s wishes are carried out. This article takes a closer look at three such strategies: disclaimers, spousal right of election and QTIP trust.
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Tax Relief act provides temporary certainty for your estate plan
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 960
Abstract: In recent years, estate planning has been a challenge. The recently enacted Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 provides welcome certainty in regard to estate planning, but only through 2012. This article looks at the estate tax regime that has been in effect since 2001, and how the new Tax Relief act affects it. A sidebar chart lists the specific exemptions and rates in effect for 2009 through 2013 for gift, estate and generation-skipping transfer (GST) taxes.
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The tax lay of the land – Familiarize yourself with a new state’s tax laws
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 638
Abstract: This article discusses the case of “Justin,” who is purchasing a second home in another state to be closer to a sick family member. But he still expects to spend time during the year in his old home. His tax advisor then called to inform Justin about his new state’s tax laws and the need to establish a legal “domicile,” or principal place of residence. He explains that a person can have many homes but only one domicile, and discusses how to establish one so as to obtain the most advantage of states’ different tax laws.
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HSA + HDHP = cost-effective health care funding
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 773
Abstract: Because of the rising cost of health care, individuals are looking for cost-effective ways to fund it. The combination of a Health Savings Account (HSA) and a high-deductible health plan (HDHP) is one solution. This article explains the basics of how they operate together, what it takes to qualify, and why this solution might be better for some than for others. A sidebar shows the 2012 HSA contribution limits and HDHP costs.
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Gain financial flexibility with a savings plan
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 488
Abstract: A person who’s achieved some measure of earning power might be inclined to think that saving will somehow take care of itself. That would be a mistake. There’s no telling when an unexpected turn of events, such as a job loss or an extended illness, could quickly empty one’s bank account. Consequently, the smartest strategy is to begin saving as much as possible, as early as possible. This article offers tips for getting started early.
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Is it time to sell? Knowing when to get rid of a security requires strategy
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 666
Abstract: If an investment is doing well, the tendency is to want to stick with it to see if it does even better. If it’s doing poorly, the inclination is to hang on until it’s back to breakeven. But both of these scenarios can turn out badly. So when is the right time to sell? This article offers some reasons to sell, such as when a company is in decline or it’s necessary to balance one’s portfolio. A sidebar discusses selling in tax-deferred vs. taxable accounts.
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A primer on the probate process
September / October 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 266
Abstract: This brief article explains the probate process and why it’s generally desirable to avoid probate, if possible. It mentions strategies for avoiding or minimizing probate, but they depend largely on the complexity of one’s estate.
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Do you need long-term care insurance? Weigh the costs and benefits before deciding
September / October 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 672
Abstract: Long-term care (LTC) generally isn’t covered by Medicare or other health insurance. Because of the increasingly high costs associated with LTC services, an LTC insurance policy is worth considering. This article discusses options available, including a new federally administered program called Community Living Assistance Services and Supports (CLASS), which will be available after October 2012. The article also discusses the self-insurance option.
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Turning your ownership interest into cash for retirement
September / October 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 821
Abstract: Business owners have many options to get cash out of their businesses so they can retire comfortably. This article describes what’s involved in selling to different types of buyers: co-owners or family; managers or employees; or outsiders. Alternatively, one can derive cash from the business without selling it, through such vehicles as a deferred compensation agreement, a severance package, a covenant not to compete, or defined benefit plans and target benefit plans.