Earmarking the family home — or some portion of it — to fund a Charitable Remainder Trust (CRT) can satisfy philanthropic intent, reduce personal taxes, and generate long-term income. For those with certain needs and desires — coupled with the right set of circumstances and capabilities — this approach could be a better alternative than … Continued
Nonqualified Deferred Compensation (NQDC) Plans are a benefit often offered by corporations to high ranking executives, usually Directors and above. They are distinctly different from qualified retirement plans such as pensions or 401(k)s, and since NQDC plans are not widely offered, the pros and cons of participating are not widely understood. Whether to participate is … Continued
There are few opportunities that allow you to pay a tax bill now to avoid an even larger tax bill later. Tax Code Section 83(b) does just that. Put simply, Section 83(b) allows taxpayers to be taxed on equity grants, such as vesting stock awards, at the date the grant was made rather than at … Continued
In today’s world of innovation, where one idea could turn a young entrepreneur into an overnight million(billion)aire, it is becoming increasingly common for a financially successful individual to accumulate far more wealth than their living parents ever could. It is in this group of high net worth investors where a unique wealth transfer strategy may … Continued
With Republicans controlling both the White House and Congress, there is an increased likelihood of tax reform legislation hitting the debate floor. Proposals by President Trump and the House Ways and Means Committee appear to support the reduction of marginal tax rates and modification of itemized deductions which will mute the taxable benefits of gifting … Continued
Good news: It’s only March and your tax return has been filed! Bad news: It wasn’t by you. It’s a problem that is all too common these days and one that unfortunately could affect you this tax season. You try to file your tax return only to have it rejected as it has already been … Continued
In the alphabet soup of estate planning jargon, the acronym QPRT is one of the more familiar — if not fully understood — terms and it represents a popular and rather common technique for potentially passing significant wealth amongst generations using family homes with little or no gift or estate tax consequence. The letters stand … Continued
Now that we are well into the final quarter of the year, it’s time to think ahead to what is approaching taxpayers in just few short months. At this time every calendar year, the various government agencies release updated figures for a range of items such as retirement contribution limitations, gift & estate tax exemptions … Continued
In June of this year, Microsoft announced plans to acquire LinkedIn for $196 per share in an all cash deal. This is great news for LinkedIn shareholders and this is only one of 32,203 M & A deals announced during 2016 which total value estimated at $3.6 trillion¹. The shareholders of LinkedIn or many other … Continued
Even at the ripe old age of 100, the Federal Estate Tax – also affectionately known as the ‘death tax’ – is still steeped in controversy. When it was first instituted in 1916 during the height of World War I, it was seen by supporters as a reasonable way to enhance U.S. revenues in case America joined … Continued