Dennis Kennedy writes about the emerging usefulness of SSDs in the legal industry. SSDs remove many of the annoyances that are customary for regular disk drives such as slow, noisy start ups and bigger space requirements. Mr. Kennedy notes...
Continue reading "Solid State Drives (SSDs) Can Be Useful for Your Law Practice"
Andrew Friedman, a government affairs expert and a former attorney for Covington and Burling, warns that there may be a sharp tax increase in 2013. Friedman attributes the sharp tax increase to the supercommittee's failure to meet its deficit-cutting deadline...
Continue reading "Advisors Foresee Sharp Tax Increase in 2013"
Clooney plays trustee in the new film "The Descendants". The trust has provided the King family with land to live on for years. As trustee as well as beneficiary to the trust, Clooney finds himself in dilemma when called...
Continue reading "George Clooney Plays Trustee in New Film 'The Descendants'"
The Wealth Strategies Journal has posted a new article entitled, "Stairway to Estate Planning Heaven," by Martin Shenkman, CPA, MBA, JD.From the article:"Summary: Led Zeppelin's classic hit has remained popular with boomers as a paradigm for their estate planning. Rung...
The Sensible Estate Tax Act of 2011, introduced by Rep. McDermont, aims to restore estate tax rates to pre-2001 levels. The bill, effective December 31, 2011, will also affect family limited partnerships and GRATs. Should Congress not take action...
Continue reading "'Sensible Estate Tax of 2011' Introduced to 'Restore Fairness to the Estate Tax'"
In Forbes, Matthew Campione argues that after the past 10 years of fluctuations, the federal estate tax system should be repealed. He notes that there have been many loopholes that the wealthy can utilize to avoid paying the tax, and also...
Continue reading "An Argument for Repeal of the Federal Estate Tax"
Canadians and other foreign citizens who own property in the United States or have stocks or bond holdings of more than $100,000 should keep certain things in mind while filling for income tax returns. First, you should declare foreign property...
Continue reading "Tax Considerations for Canadian Snowbirds"
The American Institute of Certified Public Accountants (AICPA) has provided Congress with suggested reforms for the estate and gift tax system. Some of these suggestions include:1) keeping permanent the technical modifications to the GSTT rules, 2) maintain an applicable...
Continue reading "AICPA Recommends to Congress Reforms for Estate and Gift Tax System "
The IRS has released Publication 950, Introduction to Estate and Gift Taxes, which provides a general explanation of gift and estate taxes and illustrates how much money or property can be given away during life or bequeathed to heirs...
Continue reading "IRS Releases Estate and Gift Taxes Publication"
Family loans may be appealing in the current interest rate environment, but several tax implications should be considered beforehand. First, no matter what the actual rate, the lender will have (imputed) income tax to report on schedule B of...
Continue reading "Important Tax Implications for Family Loans"
In order to protect financial institutions from experiencing a bank run during irregular financial stress, the Federal Deposit Insurance Corporation (FDIC) was created to protect deposit at financial institutions. By providing a guarantee, it is assumed that depositors would not...
It is often commented that the tax code is progressive because the wealthy pay more in taxes than others. However, often missed is the number of tax loopholes and shelters that require complex financial planning which can only be afforded by the...
With the recent economic downturn leaving several law graduates with six-figure debt, law schools have been targets for lawsuits and increasing scrutiny from Congress for alleged false advertisement about potential jobs after graduation. The New York Times partly attributes this...
The wealthy have flocked to irrevocable life insurance trusts (ILITs) to shield their heirs from federal estate taxes. It essentially makes sure that the death benefit is large enough to fully pay for the estate tax bills when the grantor...
Continue reading "Are Irrevocable Life Insurance Trusts Worth the Premium?"
The wealthy have flocked to irrevocable life insurance trusts (ILITs) to shield their heirs from federal estate taxes. It essentially makes sure that the death benefit is large enough to fully pay for the estate tax bills when the grantor...
Continue reading "Are Irrevocable Life Insurance Trusts Worth the Premium?"
The Wealth Strategies Journal has posted a new article entitled, "Resurrecting the $20-Million Estate: Don't Forget About the BDIT!" by Robert Moshman, Esq.From the article: "Two limousines pull up alongside each other. The passengers roll down their windows. A...
Continue reading "Resurrecting the $20-Million Estate: Don't Forget About the BDIT!"
Switzerland is considering imposing uniform inheritance and gift tax laws for all cantons upon wealthy residents after 2011. Currently, many cantons impose inheritance taxes but exempt spouses and direct descendants. The proposed law would impose a 20 percent tax...
Continue reading "Switzerland Considering Uniform Inheritance and Gift Tax Laws for the Wealthy "
The IRS has released new proposed regulations regarding the election of an alternate estate valuation date under Section 2032. The proposed regulations provide that an exchange of interests in an entity would be treated as a disposition, and therefore...
Continue reading "IRS Proposes New Regulations on Alternate Valuation "
The Wealth Strategies Journal has just posted a new article entitled, "The Reasonableness of Owners' Compensation," by Jesse A. Ultz, CFA.From the article: "Many business owners are motivated to deviate from an arm's-length compensation level for owners in order to...
Rep. Jim McDermott, D-Wash, senior member of the tax-writing House Ways and Means Committee, has introduced a bill to Congress to raise the estate tax. According to an article published by Accounting Today, the bill would bring the estate tax...
Continue reading "Congressman Proposes Raising the Estate Tax"
The Congressional Super Committee, which was responsible for developing a bipartisan plan for reducing the deficit by $1.5 trillion over the next 10 years, failed to reach an agreement. The failure to reach an agreement may lead to rushed legislation,...
Continue reading "Super Committee Fails to Reach Budget Agreement"
Tax Notes has published an article by Fred Stokeld discussing a recent study regarding the Obama administration's proposal to cap the charitable deduction at 28 percent for individuals earning more than $200,000 and families earning more than $ 250,000 and...
Continue reading "Proposed Charitable Deduction Cap Will Reduce Charitable Giving"
On November 17, Janine Cook, deputy division counsel/associate chief counsel, IRS Tax-Exempt and Government Entities Division, stated that the IRS has considered possible answers to questions regarding the Voluntary Classification Settlement Program, which enables employers to resolve past worker classification...
Continue reading "IRS To Post FAQs Regarding Voluntary Classification Settlement Program"
In a survey, wealthy Americans stated they did not trust their heirs with managing the inheritance. Ironically enough, nearly all plan to leave their wealth to their heirs. As well, sixty percent of wealthy Americans stated they would need professional...
Despite the well planned legal mechanism available, at some point wealthy estates may have to pay an estate tax. While this could take out a sizable portion of an estate, financial planners working along side insurers are offering wealthy clients the...
The extended deadline for the IRS's voluntary disclosure program to comply with the Report of Foreign Bank and Financial Accounts (FBAR) is approaching. With this deadline nearing, practitioners expect to see increasing litigation concerning whether a failure to file...
Continue reading "Increased Litigation on the Horizon for FBAR Penalties"
During a recent luncheon, Michael Danilack, IRS Deputy Commissioner (International) for the Large and Mid-Size Business Division, announced that the IRS is on track to issue proposed regulations on the Foreign Account Tax Compliance Act's withholding rules by the end...
Revenue Ruling 2011-31 provides various prescribed rates for December 2011 for federal income tax purposes. These include the applicable federal interest rates, the adjusted federal long-term rate, and the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed...
DELOITTE presents the following International and Federal Tax Webcasts. See below for a brief description of the Webcasts provided by Deloitte and registration links.International Tax FATCA Update: Are You Staying on Top of Recent Changes?Tuesday, November 29, 2:00 PM ESTThe...
Continue reading "SAVE THE DATE: Webcast for Tax Executives: November 21 - December 16"
DELOITTE presents the following Financial Services Webcast. See below for a brief description of the Webcasts provided by Deloitte and registration links.Corporate Governance: Do You Have the Right People On Your Board?Thursday, December 01, 2:00 PM EST Marketplace issues today...
Continue reading "SAVE THE DATE: Webcast for Financial Executives: December 1, 2011"
Summitas is an online platform where high net worth individuals and groups can register to be connected to information on financial topics, securing valuables, and other valuable information. As well, it allows users to connect with other financial advisors and...
Catherine Hughes, an attorney-advisor at Treasury, has promised that the IRS will release new regulations by year's end to help practitioners and preparers deal with potential DSUEA issues. These regulations will cover 4 issues brought up by the New...
As investor confidence has been shaken to its core, not even sovereign notes have survived skepticism. As such, investment advisors have concentrated their efforts to help wealthy investors preserve their capital by investing in hard assets such as gold. See...
Lauren Foster provides tips on how a trustee (and the initial testator) can avoid potential liability during trust management under the Uniform Prudent Investor Act. First, trustees should avoid managing trusts with a heavy concentration in one asset. Second,...
Continue reading "How to Avoid Liability in Trust Management"
The Swiss government faces conflicts with its current laws regarding the immediate release of U.S. citizen's private information and asset holdings in Switzerland. See Tax Notes Today, 2011 TNT 173-5Posted by E. Jazmin Antezana, Associate Editor, Wealth Strategies Journal http://www.wealthstrategiesjournal.com/bios/2011/10/e-jazmin-antezana.html...
On July 21, Joe Paterno oddly sold his $600,000 home to his wife for $1. Some legal experts note that this was an "attempt to avoid personal liability" to an impending civil action suit that Paterno knew about. However, there...
Forbes has published their 2012 Investment Guide, which provides articles on topics ranging from taxes, retirement income, stocks, and investments. The guide is styled as an investment manual aimed to provide financial information to Generation Y, Generation X, and the...
Forbes has published an article discussing how relatives can help ease student loan debt. According to the article, students should seek loans from relatives, such as grandparents, or have them pay tuition directly to the school to avoid gift-tax issues.See...
Continue reading "Student Debt Burden Can Be Eased With Family Loans"
The Wealth Strategies Journal has just posted a new article entitled, "The Cain Plan v. The Able Plan: An Empirical Analysis," by Nick Paleveda.From the article:"There is no question that the Herman Cain tax proposal 9-9-9 has gained recent...
Continue reading "The Cain Plan v. The Able Plan: An Empirical Analysis"
Steve Akers, Associate Fiduciary Counsel, Bessemer Trusts, provides the following summary of Estate of Liljestrand v. Commissioner, T.C. Memo 2011-259 (Nov. 2, 2011).Steve R. Akers, Fiduciary CounselAkers@bessemer.comNovember 14, 2011Real estate properties that decedent contributed to an FLP were included in...
Continue reading "Steve Akers:Current Developments in Estate Planning"
A recent study done by Stanford University states that middle-income neighborhoods have significantly declined since the 1970s. The downtrend is not directly related to the current economic situation as the last set of data analyzed is from 2007. According to...
Continue reading "Disappearance of Middle-Class Neighborhoods"
There are several reasons why a settlor should consider hiring a professional trustee instead of selecting a family member when it comes to serving as trustee of a special needs trust. First, the time commitment of managing so many...
Continue reading "The Benefits of a Professional Trustee for a Special Needs Trusts"
After the death of a loved one widows and widowers sometimes make crucial mistakes when it comes to financial matters. For example, in dealing with IRAs the IRS may impose certain penalties for early withdrawal before age 60, and some...
Continue reading "Financial Mistakes That Surviving Spouses Should Avoid"
Many unmarried couples are unaware of the fact that under state laws of intestacy the surviving, unmarried partner will be left with nothing after death. But, there are legal documents that such couples can use to prevent this occurrence. For...
Continue reading "Estate Planning Tips For Unmarried Couples"
The IRS has ruled that the sale of a martial trust's limited partnerships qualifies as an estate administration exemption under Treas. Reg. Sec. 53.4941(d)-1(b)(3). In PLR 201145026, the Decedent, who was the sole beneficiary of a marital trust created by...
Continue reading "PLR 201145026: Sale of a Marital Trust's Limited Partnerships Not Self-Dealing"
The Government Accountability Office ("GAO") has released their financial audit and report of the IRS's Fiscal Years 2011 and 2010 Financial Statements. According to the report, the IRS, while making improvements to recognize and address deficiencies, continues to have deficiencies...
The Internal Revenue Service has stepped up its game, and is proposing no civil or criminal penalties for taxpayers that voluntarily come forward and comply with paying their taxes from undisclosed domestic and offshore accounts. If taxpayers do not pay...
Continue reading "Information Document Requests by the IRS for Domestic and Offshore Accounts "
The Swiss Federal Tax Administration ordered Credit Suisse to disclose U.S. customers bank account information to the IRS. See Tax Notes Today, 2011 TNT 217-8 Posted by E. Jazmin Antezana, Associate Editor, Wealth Strategies Journal http://www.wealthstrategiesjournal.com/bios/2011/10/e-jazmin-antezana.html...
Deloitte is hosting a financial services webinar, described as follows:"The Mass Affluent Market: Rethinking the Possibilities"The mass affluent market has been a high-priority focus for many financial institutions for some time. So how can more institutions use segmentation, products, and...
Continue reading "Deloitte Presentation on the "Mass Affluent Market""
Savatore LaMendola of Giarmarco, Mullins and Horton has provided the following notice of two presentations: "Your client's IRA beneficiary designation form is a very important legal document, potentially controlling more assets than your cilent's will or living trust. In fact, it...
Director Karen Hawkins of the IRS Office of Professional Responsibility recently addressed concerns based on an earlier remark--that she had asked Appeals agents to report advisors whose clients avoided accuracy-related penalties through reasonable reliance on the advisors' opinion (see here). ...
Continue reading "More From OPR on Referrals From IRS Appeals"
Forbes has published an article by Wendy S. Goffe, estates and trusts attorney with Graham & Dunn, discussing the role religion plays in end-of-life decisions. According to the article, only about one in three individuals has a healthcare directive or...
Continue reading "What Religion Says About Pulling The Plug"
Schmalbeck and Soled claim the congressional raise of the estate tax exemption to $5 million will remove executor incentive to report assets at their "lowest defensible values". Considered to be a legislative compromise by politicians, the estate tax exemption...
Continue reading "Tax Revenue Affected by Raised Estate Tax Exemption "
IRS Small Business/Self Employed Division Commissioner Faris Fink expressed his agency's intent to remain aggressive in monitoring tax evasion at its lowest levels. The IRS is witnessing a rise in the use of simpler schemes to commit tax fraud....
Continue reading "IRS to Remain Aggressive Investigating Simple Tax Fraud "
The IRS has promised that further guidance will be released by the end of the year to assist estates with potential portability issues. IRS officials have acknowledged that they have received detailed comments on portability since releasing Notice 2011-82 in late September. The...
Continue reading "IRS Promises Guidance on Portability, Decanting Trusts By Year's End"
Stuart Robertson discusses how investing in a 401(k) can cut a person's 2011 tax bill. He discusses how one of the advantages of a Solo 401(k) is the ability for an owner to play the roles of both employer and...
The American College of Trust and Estate Counsel sent a letter to the tax writing committees of the United States Congress recommending certain changes to the tax law system. Their recommendations span different topics including marital deduction, portability, claw back,...
Steve Akers, Associate Fiduciary Counsel, Bessemer Trusts, provides the following summary of a new estate planning opinion from the tax court. Estate of Duncan v. Commissioner, T.C. Memo 2011-255 (October 31, 2011) Interest for Full 15-Year Term on Graegin Loan Deductible Under...
Steve Akers, Associate Fiduciary Counsel, Bessemer Trusts, provides the following summary of developments in estate planning over the last several months. Procedures for Filing Protective Claims for Refund and Subsequently Notifying IRS to Consider Refunds After Contingencies to Section 2053...
The New York Times Your Money Team has created a special series titled, Which Way Home? The series presents stories of real homeowners in the fallout of the bursting of the housing bubble. Some of the stories are: how a financial pro...
Continue reading "NY Times Your Money Series Has New Special Section on Home Ownership"
The U.S. Court of Federal Claims ruled against a recent IRS motion on the pleadings regarding late payment penalties assessed by the IRS against the Estate of Morton Liftin. The Estate claimed a refund, arguing that the late filing of the...
Continue reading "Court of Federal Claims Rules Against IRS on Late Filing Case"
On November 2, 2011, Credit Suisse, Switzerland's second-largest bank, announced it will handover the names and account details of U.S. taxpayers, who are suspected of tax evasion, to the IRS. According to a Reuters article titled "Undisclosed Foreign Accounts? The...
Continue reading "Credit Suisse to Disclose Names of U.S. Clients"
Kristina Peterson details how same-sex spouses in the U.S. sometimes face a tremendous tax disadvantage compared to heterosexual spouses. For example, many transactions between same-sex couples trigger gift taxes and such transactions may exhaust much of their lifetime gift...
Continue reading "Same-Sex Spouses Face Tax Disadvantages Compared to Heterosexual Spouses"
According to a Bank of China report, half of China's millionaires want to move elsewhere. North America is the top destination. It is followed by Canada, Singapore and Europe. Chinese millionaires are worried that they might end up in prison...
Continue reading "China's Rich Want to live Anywhere but China"
Republicans in both chambers of Congress are discussing proposals that would target the wealthy. Legislation introduced by Oklahoma Senator Tom Coburn and Oklahoma Representative James Lankford would deny unemployment insurance benefits to millionaires. Utah Representative Jason Chaffetz wants to introduce...
Different states have different taxes. Some states have an inheritance tax. Others have an estate tax. New Jersey has both. See Liz Skinner, "Don't Die in New Jersey," investmentnews.com (Nov. 06, 2011). Posted by Shahzeb Gaziani, Senior Associate...
The IRS has published final regulations on graduated grantor retained annuity trusts. Following advice from commentators, the IRS conceded that there will be no double inclusion of future GRAT payments receivable by the grantor's estate. Such payments will not...
If left up to Rupert Murdoch, he would remain in control of his media empire well into his nineties. It was expected that at that time the then heir apparent to News Corp, Lachlan Murdoch, would take over control. That...
Continue reading "The Murdoch Family Dynasty and the Future of News Corp."
Karen Queen of Fox Business notes that there are several conventional financial wisdoms that one should ignore today. These financial wisdoms include - (1) saving 10% of your income (2) buying a house instead of renting (3) saving for your...
There have been three recent PLRs issued by the IRS. These include: PLR 201144001 - The IRS ruled that sections 2702(a)(1) and 2702(a)(2) won't apply to the modification and amendment and restatement of a trust and that on execution of...
Andrew Osterland discusses why 2011-2012 is the 'perfect storm' of opportunities for wealthy families to transition assets to the next generation. The elements start with the elevated estate and gift tax exclusion amount of $5 million per spouse (including portability...
Continue reading "The 'Perfect Storm' for Estate Planning and Asset Transition"
Julie Jason writes about the importance for spouses in coordinating an estate plan with an investment plan before the first spouse passes away. She recommends discussing your plans with your spouse after age 65 and to be sure to...
Continue reading "Spouses Should Coordinate Estate and Investment Plans"
The Wealth Strategies Journal has posted a new article entitled, "Avoiding a GSTT Asteroid," by Robert Moshman, Esq.Article excerpt:"The odds that an estate will run afoul of the generation skipping transfer tax (GSTT) may be rather slim nowadays, but...
A nine year study has concluded that successful entrepreneurs are not luckier than unsuccessful entrepreneurs. According to the study, successful entrepreneurs are able to take advantage of lucky events and avoid bad decisions and outcomes.See Debra Cassens Weiss, "Study Finds...
Continue reading "Successful People Get the Best Return on Luck"
According to a 2005 tax data study, Lawyers make up 8 percent of the top 1 percent of earners and are outranked by other professions.The study provides that:(1) executives, supervisors, and managers make up 31 percent;(2) medical professionals make up...
Continue reading "The One Percenters Include More Doctors than Lawyers"
Lewis Saret, Of Counsel, Moore & Bruce, LLP, authored the first in a series of columns for CCH's Taxes - The Tax Magazine, which is The Estate Planner: Retirement Benefits in the Context of Estate Planning--Part I: Minimum Required Distributions." A...
Continue reading "Retirement Benefits in the Context of Estate Planning"
According to a survey conducted by Sun Life Financial, only a quarter of working Americans are "very confident" they will be able to afford basic living expenses in retirement. This is down from 42% last year. Additionally, two-thirds of Americans believe they...
Continue reading "Economic Conditions Have Fewer Americans Confident About Retirement Savings"
Deloitte is hosting a webinar on FATCA. The description is as follows:Enacted in 2010, The Foreign Account Tax Compliance Act (FATCA) is to go into effect in 2012. This session is intended to analyze and discuss developments in FATCA and...
This week the U.S. Tax Court determined whether the value of assets that the decedent had transferred into a FLP were includible in his gross estate under Section 2036(a). The Court held: 1) the decedent transferred assets to the...
Deborah Beers has provided analysis for BNA on the recent Tax Court case, Estate of Turner v. Comm'r. The Court held that all of the assets transferred into the FLP were includible in the decedent's gross estate because the...
Continue reading "BNA Analyzes Tax Court Case, Estate of Turner v. Commissioner"
Billionaires, because of their wealth and status, have to be aware of threats such as assault, kidnapping, and blackmail. To help defend against these threats, billionaires turn to the security advisers at TorchStone Global for methods to protect themselves and...
Continue reading "How Billionaires Avoid Dangerous Situations"
Steven J. Oshins, attorney with the Law Offices of Oshins & Associates, LLC, and Robert S. Keebler, partner with Keebler & Associates, LLP, have published an article discussing the recent Alaska Bankruptcy case, Battley v. Mortensen. The authors point out...
On Tuesday, November 15, 2011, the WealthCounsel will be showcasing a webinar presentation by Paul S. Lee of Bernstein Global Wealth Management in New York. The hour-long webinar will start at 1:00pm EST and will discuss the new changes in...
On Monday, November 7, 2011, Deloitte will be offering a presentation on the trends and practices in valuing mutual fund investments at 2:00pm EST. The presentation will include practical insights into managing the valuation process, value trends, operational challenges and...
Continue reading "Deloitte - Practices and Trends in Valuing Mutual Fund Investments Presentation"
In tough business and economic times, every tool available to an investor should be utilized to the best of their ability. This also include tax strategies dealing with losing investments, capital purchase, charity, and other financial matters. Doing such may...
A 20-year market investment study led by Janet M. Brown of DAL Investments, concluded that managers tend to get typecast in certain investment styles, and it is best to look into an index fund if avoidance of expenses is a...
The 2010 Tax Relief Act included a $5 million exemption from estate and gift taxes. However, it also allows the estate to utilize unused estate tax exemption of the predeceasing spouse. This portability is set to expire soon. See...
The 2010 Tax Relief Act included a $5 million exemption from estate and gift taxes. However, it also allows the estate to utilize unused estate tax exemption of the predeceasing spouse. This portability is set to expire soon. See...
The president of a charitable foundation has taken exception to Senator Charles Grassley's (R-IA) recent call to close out a loophole that he says is exploitative of charitable deductions. The contention centers around the alleged exploitation of supporting organization...
The IRS has issued a new legal memorandum determining that taxable income for purposes of applying the 10% corporate limitation on charitable deductions is not adjusted for excess investment income from a mortgage investment conduit under Section 860E. The...
In a private letter ruling, the IRS has held that debt of a third party oil and gas working interest owner does not constitute acquisition indebtedness to a private foundation under Section 514 with respect to the foundation's net...
Continue reading "PLR 201142026: IRS Determines Net Profit Interest in Oil and Gas is Not UBI"
Deloitte has recently published an article discussing the current push for corporate tax reform. There is a growing consensus in Washington on the need to reform the corporate tax rules so that U.S. businesses can be more competitive internationally. The...
In filing for taxes, one should be aware of the various tax benefits that will increase for 2012. These benefits include tax deductions for medical savings accounts, student loans, and exlusions for estate taxes. See Ann Hynek, "Some Tax Benefits...
There is a concern that future tax changes by congress may make current estate planning futile. However, there are certain estate planning strategies that should be considered in order to take full advantage of future provisions and are considered fairly...
Continue reading "Estate Planning With An Uncertain Tax Code"
It's National Estate Planning Awareness Week and the message is simple. Estate plans are not only for the elderly, they are for adults in all stages of their lives. Estate plans are tailored to meet the needs and concerns...
Continue reading "All Adults 18 and Older Should Have an Estate Plan"
The American College of Trust and Estate Counsel (ACTEC) has provided comments on IRS Notice 2011-82 involving portability of a deceased spouse's unused exclusion amount. The comments focus on a potential problem where a surviving spouse re-marries and then...
Continue reading "ACTEC Comments on IRS Notice 2011-82 Regarding Portability"
Russell James, Professor at Texas Tech University, advises that in behavioral finance, decision-making usually comes down to getting an investor's rational functions to override impulsive behavior and steer the investor toward better decisions. He also reports that there are two...
Continue reading "Advising Clients to be Financially Rational"
Claudio Pannunzio lists five rules for creating a successful marketing plan. These include:Identifying your target audienceEstablishing your core messageSticking with your core messageDeciding whether or not to use social mediaViewing the marketing plan as a slow building block processSee Claudio...
The Wealth Strategies Journal has just posted a new article entitled, "How to Review a Commercial Real Estate Appraisal Report: How Can an Attorney Ascertain the Merit of an Appraisal?" by Christopher P. Casey and John W. VanSanten. ...
Donna Mitchell advises that to be prepared for succession, financial planning companies must make sure that employees are able to advance their careers within the company. According to FA research, 27% of financial planning companies make career opportunities a key...
Trusts and Estates has published two new articles on charitable giving. The first article discusses how individuals age 70½ have until December 31, 2011 to make direct charitable gifts from their IRAs and not have to report the distribution as...
In a yearly ritual of agony, taxpayers spend hours on tax software or their accountants to find out how much they must give (or get back) from Uncle Sam. As such, it is no surprise that there is a lot...
Leaving behind funds for taking care of your family members is often the primary motive of estate planning. However, many individuals in their lives have been heavily involved with charitable work and it is logical for them to want to...
The $5 million net asset exclusion from the estate tax may provide a false hope for some that they do not need to engage in estate planning. However, taxes are not the only concern that one should consider. There may...
President Obama's most recent fiscal budget included $25 million dollars to the Department of Labor (DOL) to assist in combating employee misclassification. The DOL will be specifically targeting employers who misclassify employees as independent contractors. Also, on September 19, the...
Continue reading "Guarding Against Employee Misclassification"
In an interview with Glenn Ruffenach, Rachel Silverman, author of the "Wall Street Journal Complete Estate-Planning Guidebook," notes that estate planning may lead to heightened anxiety, awkward conversations with family and expensive meetings with lawyers, but is nevertheless absolutely essential for planning ahead for...
Continue reading "Planning for the Future with Estate Planning"
A draft proposal to amend the ethics rules which limit ownership to licensed attorneys is to be submitted this November in order to improve legal services and extend ownership of law firms to other professionals. See: http://www.nytimes.com/2011/10/29/business/selling-pieces-of-law-firms-to-investors.html?_r=1&partner=rss&emc=rssPosted by E. Jazmin Antezana, Associate...
