#AssetProtection: IRS Issues New Rev Proc 2016-49 Supporting Use of Clayton Election
Good news! The IRS just issued, moments ago, a new Revenue Procedure 2016-49, modifying Rev Proc 2001-48, removing a possible grey area in the use of the so-called Clayton election for flexible and comprehensive post-mortem (i.e., portability and reverse QTIP) tax...#AssetProtection: Learning Estate Planning’s Alphabet Soup
This is authored by Matt McClintock, VP of Education for WealthCounsel: I initially created this article as a resource for members of WealthCounsel, but we share it with the entire industry. To that end, I’m sharing this resource here and encourage attorneys and...#AssetProtection: State Estate and Inheritance Tax Rates and Exemptions 2016
You cannot ignore death tax planning just because the federal estate tax exemption is high now. Congress can lower the exemption at any time. Even if the federal exemption remains high, you may end up moving at some point to a state that has a state-level estate or...#AssetProtection: Fresh Look at Charitable Lead Annuity Trusts
[slideshare id=56750185&doc=aac527e2-7f52-466b-8109-82432616b858-160106174411] If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And at Protect.FM, we believe good estate plans protect families. We make it...#AssetProtection: Twenty Tips for Planning at the Eleventh Hour
A practitioner’s checklist for clients near death Source: Twenty Tips for Planning at the Eleventh Hour | Wealth Management If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And at Protect.FM, we believe good...#AssetProtection: SMALL BUSINESS TAX PLANNING 401K PLAN
If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And at Protect.FM, we believe good estate plans protect families. We make it easy for your family to attain the comfort of skill at arms. David R. Duringer, JD,...#AssetProtection: Lessons Learned From Hillary Clinton’s Tax Returns
Self-Employment Income The Clintons earned $10,168,272 of self-employment income in 2015 from book royalties, speaking engagements and consulting, resulting in the payment of $301,698 in self-employment tax. As self-employed taxpayers, the Clintons pay both the...IRS Clarifies That Indirect Owners Of Disregarded Entities Are Liable For Self-Employment Tax
The IRS recently released temporary regulations clarifying that an employee of a disregarded entity is liable for self-employment tax if the employee is a partner in the partnership that owns the disregarded entity. See Treasury Decision 9766 (May 4, 2016). Source:...States Eye Wallets of Richest Residents With Income-Tax Measures
Colorado and Maine may raise taxes on top earners, while Minnesota is looking to apply the state’s Social Security tax to high incomes to care for senior citizens and people with disabilities. California voters could extend by 12 years a soon-to-expire income-tax...Top Five Traits of Effective Family Philanthropy
Through our work with the Andersons, Pitcairn has seen firsthand how a family can build a lasting philanthropic legacy, and we’ve identified five key traits that contributed to their success. We believe other wealthy families can better achieve their own philanthropic...IRS Approves Another NING/DING
http://leimbergservices.com/rss/Keebler-PLR201614007.mp3 The IRS has approved another non-grantor, incomplete gift trust. NINGs, DINGs, etc., are useful to avoid high state income taxes and are also useful for asset protection. See PLR 201614007. If attacked, do you...PATH Now Permanent for $100K Charitable Contributions from IRAs
The Protecting Americans From Tax Hikes Act of 2015 (PATH) provides long-awaited certainty for taxpayers that make charitable contributions from IRAs. The new law became effective December 18, 2015. It made permanent the IRA charitable rollover provision that allows...IRS Announces 2016 Estate And Gift Tax Limits
The amount you can leave to your heirs federal estate tax free is on the rise. Source: IRS Announces 2016 Estate And Gift Tax Limits: The $10.9 Million Tax Break – Forbes Forbes’ headline is misleading. In the last paragraph, they admit that planning for...
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