749
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To file or not to file a gift tax return, that is the question
March / April 2022
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 749
Abstract: Those who made gifts last year may be wondering if they need to file a gift tax return. The short answer is that there are many situations in which it’s necessary (or desirable) to file Form 709 — “United States Gift (and Generation-Skipping Transfer) Tax Return” — even if one isn’t liable for gift taxes. This article details the situations where gifts are considered nontaxable and explains a few tax traps to be aware of.
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IRS explains new UBTI rules – Clearing up the “silo rule” confusion
June / July 2019
Newsletter: Nonprofit Agendas
Price: $225.00, Subscriber Price: $157.50
Word count: 749
Abstract: Several provisions of the TCJA have significant implications for nonprofits, especially those with unrelated business taxable income (UBTI). These organizations must now calculate their UBTI separately for each unrelated business. Not surprisingly, this new “silo rule” has led to some head-scratching. This article discusses interim guidance aimed at clearing up any confusion. Nonprofits may rely on this guidance (IRS Notice 2018-67) until proposed regulations are issued. A sidebar explains how the TCJA provisions on transportation fringe benefits, including transit and parking, are affecting organizations.
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An appraisal of your borrower’s collateral can be invaluable
October / November 2018
Newsletter: Commercial Lending Report
Price: $225.00, Subscriber Price: $157.50
Word count: 749
Abstract: It’s important for lenders to take a hard look at the current market value of a borrower’s assets periodically. One way to do so is to obtain a formal asset appraisal. This article explains the most common valuation techniques and how appraisers determine the appropriate standard of value. The article notes that an appraiser also can help a lender understand how much cash a borrower is likely to receive under various liquidation scenarios and help support decisions to reorganize or liquidate.
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Is a charitable IRA rollover a viable option?
June / July 2017
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 749
Abstract: For those age 70½ or older who plan to make charitable donations this year, qualified charitable distributions from an IRA, also known as charitable IRA rollovers, can provide significant tax benefits. This article details the benefits of a rollover and its requirements.
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The ABLE account: A good alternative to a special needs trust?
August / September 2015
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 749
Abstract: Late last year, Congress passed, and the President signed, the Achieving a Better Life Experience (ABLE) Act. The act authorizes a new, tax-advantaged savings account, modeled after the Section 529 college savings account, for people who are blind or have severe disabilities. This article explains the ins and outs of an ABLE account and why a special needs trust may be a better option.
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Preservation effort – A “stretch IRA” can maximize your IRA’s benefits
May / June 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 749
Abstract: Structuring an IRA as a “stretch IRA” can preserve its benefits for many years — and can benefit both one’s estate and retirement plans. This article takes a closer look at the ins and outs of stretch IRAs, showing how the beneficiary can enjoy tax advantages by having distributions based on his or her own, presumably longer, life expectancy, rather than the distribution period that applied to the deceased. To avoid having the beneficiary immediately empty the account — thus defeating the purpose of a stretch IRA — a “conduit trust” can be set up.