- Top 50 Docs Viewed in 2008
A listing of the fifty most visited documents in 2008.
- The Check is in the Mail
A transaction as basic as the issuance and delivery of a check can give rise to a surprising number of tax issues.
- To the Moon, Alice!—How to Prospect Even Though People Are Fed Up with Marketing
Is your marketing giving you less bang for the buck? If so, it might not be because there`s something you could be doing better. Your efforts are running up against the fact that American consumers are fed up with marketing.
- Worker, Retiree, and Employer Recovery Act of 2008 Waives RMDs for 2009
The objective of the temporary waiver is to help taxpayers avoid forced sales at a loss in order to make required minimum distributions that otherwise would have been required in 2009.
- Market Declines and IRAs
Review how recent market declines could impact owners of traditional or Roth IRAs.
- Obama and the Estate Tax
Most commentators think that Congress will act in 2009 to enact permanent estate tax reform before the repeal takes effect in 2010. President-elect Obama has voiced his support for this.
- Notice 2008-113 Clarifies Rules on 409A Corrections
Section 409A was effective on January 1, 2005 and all affected nonqualified deferred compensation plans have been required to comply with the statute since that date.
- The Year End Review
Like Janus, the two-faced Roman god who lends his name to January, an annual review looks both backward and forward. Backward, to events of the past year that affect planning for the coming year; forward, to the plan itself.
- Economic Downturns and Estate Planning
Families with declining asset values may need to revisit the assumptions made in their estate plans.
- The Heart of an Estate Plan
Developing an estate plan involves more than understanding the tax laws. The heart of an estate plan is the proper coordination of a clients financial resources with his or her needs and objectives.
- Tax Evasion v. Tax Avoidance
The final sales push of the year is a good time to remind ourselves of the reliable and powerful tax benefits of life insurance. But first, a few words on the propriety of minimizing taxes.
- Final Regs Issued on EOLI Reporting Requirements
The IRS has issued final regulations, without substantive change from the temporary regulations, addressing the information reporting required on EOLI contracts.
- Passing It on from the Inside Out
The process of managing family dynamics within an exit plan should seek to maintain respect and trust, where each family member must have an understanding of their own and other family members’ strengths and struggles.
- President Signs the Emergency Economic Stabilization Act of 2008
While the new law’s primary purpose is to address the credit crises, it also makes many changes to the Internal Revenue Code.
- The Del Boca Vista Widow
The spread of financial literacy means that planners have to work harder and think smarter. Leveraging the GST exemption is one of the most powerful tools available for this purpose.
- Fifty-one Flowers: Current Perpetuities Law in the States
There is more variation in perpetuities law among the states than at any previous time, and this unprecedented variation presents risks and challenges for estate planners.
- The Transferors Basis Exception to the Transfer For Value Rule
The transferors basis exception provides that the transfer for value rule does not apply where the transferee`s basis in the policy is determined in whole or in part by reference to its basis in the hands of the transferor.
- Charitable Gifts Of Life Insurance - Part I
The utilization of life insurance in plans for charitable giving can provide substantial tax benefits, while satisfying the taxpayer`s philanthropic inclinations and providing meaningful benefits to charitable organizations.
- Charitable Gifts Of Life Insurance; Planning Ideas - Part II
Part II discusses planning ideas for prospective donors. Financial advisors who work with this market have often found a rich vein of new business.
- IRS Issues Final Regs for Valuation of Annuity Contracts in Roth IRA Conversions
Among the most important considerations in deciding whether to convert a traditional IRA to a Roth IRA is the amount that is includible as a result of the conversion.
- Waiver of the 60-Day Tax-free Rollover Requirement
Does the accumulated experience of rollover waiver letters give us any basis for predicting how likely a particular client’s request is to be approved? Some situations are more favorable than others, and allow us to suggest some guidelines.
- The Just Enough Funding Technique: An Innovative New Strategy
The just enough funding technique is designed to meet a married couples estate planning objective of funding a credit shelter trust at the death of the first spouse to die only to the extent necessary or desirable to avoid estate tax at the second death.
- Cancellation of Policy Subject to Loan Can Generate Taxable Income
The Atwood case underscores the painful income tax consequences which can accompany the lapsing or cancellation of a life insurance policy whose cash value has previously been substantially depleted through policy loans.
- U.S. Estate and Gift Tax Consequences for Non-U.S. Citizens
A decedent who at the time of death was not a resident or citizen of the United States, may nonetheless be subject to U.S. estate tax if at the time of death he or she owned property in the United States.
- Practical Succession Planning for the Family-Owned Business
An effectively developed succession plan provides for a smooth transition in management and ownership with a minimum of transfer taxes.
- Power of Appointment for Future Flexibility
Powers of appointment are a valuable tool in estate plans, because they allow for future flexibility in the ultimate disposition of the donors property which is placed in a trust.
- Rev Proc 2008-24 Finalizes Guidance on Partial Exchanges
What happens if only a portion of an existing annuity contract is exchanged for a new contract, while the balance of the original contract is retained? Is it a qualified exchange transaction under §1035?