Tax / Estate & Wealth Planning
Showing 1569–1584 of 2177 results
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To preserve your wealth, consider a DAPT
October / November 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 644
Abstract: For affluent families with significant liability concerns, foreign asset protection trusts (FAPTs) probably offer the greatest protection against creditors’ claims. But those who prefer to avoid the complexity and expense of an FAPT should consider a domestic asset protection trust (DAPT) instead. This article notes how a DAPT can offer protection against creditors, but also discusses its main disadvantage.
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Estate Planning Red Flag – You don’t have the right succession plan for your family business
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 344
Abstract: This issue’s “Estate Planning Red Flag” discusses the situation of “Dave,” whose estate plan leaves his business to his wife and then to their son after her death. This article explains why this plan will likely lead to an enormous estate tax bill down the road, and shows how Dave might do things differently.
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International relations – Estate planning for noncitizens
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 705
Abstract: For U.S. citizens, the federal gift and estate tax rules are relatively straightforward: Citizens are subject to U.S. transfer taxes on their worldwide assets. They’re also entitled to a generous lifetime gift and estate tax exemption, an annual gift tax exclusion, and a marital deduction that allows spouses to transfer unlimited amounts of property to each other tax-free. For noncitizens, however, it’s more complicated. If a significant amount of their wealth is situated in the United States, their heirs may be facing a substantial estate tax bill. This article discusses the determination of situs and eligibility for the marital deduction and looks at options to minimize adverse tax consequences.
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Avoid probate to keep your estate private
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 634
Abstract: Circumventing the probate process is usually a good idea, because its public nature can lead to family disputes over asset distribution. But it’s possible to keep much (or even all) of an estate out of the probate process (and the public eye) by using the right estate planning techniques. This article describes several tools to avoid (or minimize) probate, but explains that, for larger, more complicated estates, a living trust (also commonly called a “revocable” trust) generally is the most effective tool.
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The GRAT: A limited time offer?
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 809
Abstract: The grantor retained annuity trust (GRAT) has long been a popular tool for transferring wealth while minimizing or even eliminating gift and estate taxes. GRATs are particularly effective when interest rates are low, as they are now. But Congress may soon reduce their firepower, so now may be the time to include one or more GRATs as part of an estate planning arsenal. This article explains how GRATs work and notes proposed tax changes that would limit their benefits. A sidebar offers an example of a GRAT in action.
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Is my gift taxable?
September 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 315
Abstract: This article reviews some basic information on the annual gift tax exclusion. It notes the current exclusion amount and the circumstances under which the gift tax does and does not apply.
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The 3.8% net investment income tax — More than meets the eye
September 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 723
Abstract: There’s a lot for taxpayers to know when it comes to the 3.8% net investment income tax (NIIT). This new tax is imposed on income from several sources and its impact is far reaching. This article discusses those sources, along with income types that are not subject to the NIIT, and explains the income thresholds that can apply to different kinds of tax filers.
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Business tax breaks
September 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 234
Abstract: Several favorable business tax provisions have a limited term life that may dictate taking action between now and year end. This article discusses two such provisions: the Section 179 deduction and 50% first-year bonus depreciation.
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Partial restoration of lost Social Security benefits
September 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: If one begins receiving Social Security retirement benefits prior to reaching his or her full benefit retirement age, benefits will be reduced when income exceeds a certain threshold ($15,120 in 2013). However, those lost benefits are partially restored upon reaching full retirement age. This is known as the adjustment to the reduction factor. This article offers an example showing how the adjustment works.
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Estate Planning Pitfall – You haven’t reviewed your trusts this year
August / September 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 311
Abstract: If an estate plan includes one or more trusts, it’s a good idea to review them in light of recent tax law changes. Higher income taxes — on individuals as well as trusts — may make it advisable to rethink the way the trusts are structured. This article discusses recent tax hikes for “high earners” and why it might be beneficial to convert a grantor trust to a nongrantor trust.
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Making gifts still matters, even after ATRA
August / September 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 577
Abstract: The American Taxpayer Relief Act of 2012 (ATRA) eliminated much of the uncertainty that plagued estate planning for years by making two key provisions “permanent”: the $5 million gift and estate tax exemption (adjusted annually for inflation) and exemption portability between spouses. But, while ATRA relieves some of the pressure on people to transfer wealth during their lives, lifetime gifting still provides some significant advantages. This article explains how gifting assets now can “freeze” their value and remove future appreciation from one’s estate. It also shows why, all things being equal, paying gift tax is “cheaper” than paying estate tax.
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A good reason to revisit your estate plan – Accounting for digital assets
August / September 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 657
Abstract: If a person dies without addressing digital assets in his or her estate plan, loved ones or other representatives may not be able to access them without going to court — or, worse yet, may not even know they exist. These assets may include online bank and brokerage accounts, digital music, book collections, and photo galleries. In a business, the company’s website, domain name, client and other databases, and electronic invoices are considered digital assets. This article discusses the importance of taking an inventory of digital assets and ensuring loved ones can access them, while maintaining security in the meantime.
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Is your estate plan bulletproof? Techniques for avoiding litigation over your estate
August / September 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 889
Abstract: An inherent problem with wills and other estate planning documents such as trusts is that, when the time comes to put them into action, they can be objects of dispute. Fortunately, there are strategies a person can implement during life to minimize the risk of a fight over his or her estate after death. This article takes a look at some of them, while a sidebar explains how to successfully implement a no-contest clause, which disinherits an heir or beneficiary who unsuccessfully challenges a will or trust.
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2014 HSA amounts
August 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 279
Abstract: Health Savings Accounts (HSAs) were created as a tax-favored framework to provide health care benefits mainly for small business owners, the self-employed, and employees of small to medium-size companies who do not have access to health insurance. This article discusses the tax benefits of HSAs, which are quite substantial.
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Employing a business owner’s children
August 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 695
Abstract: One unique aspect of owning a business is the ability to hire one’s children. Whether doing so makes sense is more than a business decision. For the children, the answer depends a great deal on one’s intentions for passing the business to future generations, the child’s interest and aptitude, and feelings about how much a parent should “help” a child and how much they should “make it on their own.” However, some real benefits are available when employing children. This article discusses the tax benefits available, as well the opportunity to invest long-term on the children’s behalf.
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The Affordable Care Act
August 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 992
Abstract: The Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010 (together, the Affordable Care Act), was landmark legislation that dramatically affects how health care is delivered in the United States. Provisions of the legislation affect not only those directly involved in providing health care, but also most individuals and employers. This article explains provisions of the Act as it affects individuals and employers. It also discusses available subsidies, as well as an upcoming excise tax on so-called “Cadillac” plans.