If you or your trust owns an interest in a corporation, limited liability company, partnership, or other type of entity, subject to limited exceptions, you are likely required to provide certain information to the FinCEN...more
Earlier this year the stock market entered bear market territory. This happens when the market declines more than 20% or more from its most recent high. The market decline has been attributed to several factors including...more
6/30/2022
/ Charitable Remainder Trust ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Gift Tax ,
Gift-Tax Exemption ,
Inflation Adjustments ,
Irrevocable Trusts ,
IRS ,
Market Volatility ,
Qualified Personal Residence Trust ,
Roth Conversions ,
Tax Planning ,
Wealth Management
With Democratic control of the White House and Congress, there has been much speculation on what President Biden’s tax proposal will look like, as well as the likelihood that President Biden’s tax plan will be enacted into...more
7/26/2021
/ Biden Administration ,
Capital Gains Tax ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
IRS ,
Popular ,
Regulatory Agenda ,
SLAT ,
Tax Exemptions ,
Tax Planning ,
Tax Reform ,
Transfer Taxes
In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. Among the proposed changes included in the “American Families Plan” was the increase of the tax rate that...more
6/8/2021
/ Biden Administration ,
C-Corporation ,
Capital Gains Tax ,
Estate Planning ,
Internal Revenue Code (IRC) ,
IRS ,
Legislative Agendas ,
Like Kind Exchanges ,
Real Estate Transactions ,
Section 1031 Exchange ,
Tax Deferral ,
Tax Planning ,
Tax Rates ,
Tax Reform
The ‘Setting Every Community Up for Retirement Enhancement’ Act (the “SECURE Act”) was signed into law on December 20, 2019 and became effective January 1, 2020....more
2/19/2020
/ 401k ,
403(b) Plans ,
Beneficiary Designations ,
Compensation & Benefits ,
Employee Benefits ,
Estate Planning ,
Individual Retirement Account (IRA) ,
New Legislation ,
Qualified Charitable Distributions ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
SECURE Act ,
Tax Planning
On November 26, 2019, the Treasury Department and the IRS issued final regulations under IR-2019-189 confirming that there will be no “clawback” for gifts made under the increased estate and gift tax exclusion put in place by...more
1/3/2020
/ Clawbacks ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Gift-Tax Exemption ,
IRS ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
Wealth Management