Wealth Strategies Journal

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Month: December 2015 (page 1 of 3)

The Fall of Jersey: How a Tax Haven Goes Bust

Oliver Bullough of the Guardian writes about the recent economic decline of the Island of Jersey since the financial crises of 2008-2009. The small island is struggling to pay down its debt and attract investment as British businesses and millionaires seek other opportunities to avoid British tax laws. The article … Continue reading

Delinquent Taxes May Mean No Passport

Jana M. Luttenegger Weiler,  of Davis and Brown Law Firm, writes about a largely unnoticed new provision in the Fixing America’s Surface Transportation Act, signed into law by President Obama on December 4th. The provision may prevent individuals with “seriously delinquent” taxes from applying for or renewing their passports. The article
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Tax preparers revolt over IRS regulations

Naomi Jagoda of The Hill writes about lobbying efforts on the behalf of the American Institute of Certified Public Accountants to prevent lawmakers from passing the Tax Return Preparer Competency Act. The new law would impose stricter regulations on professional tax return preparers, requiring them to receive background checks as … Continue reading

Julius H. Giarmarco: 25 Year-End Estate Planning Tips (Part 3/3)

By Julius H. Giarmarco

Part 1 / Part 2 / Part 3 

Don’t let the chaos of the holiday season prevent you from minimizing federal estate taxes and fine-tuning your estate plan. What better gift for your heirs than avoiding the 40% federal estate tax and making sure your affairs … Continue reading

Florida Court Holds POD Designation Can Be Invalidated for Undue Influence

Jenna G. Rubin of Gutter Chaves Josepher Rubin Forman Fleisher Miller P. A., writes about a recent decision in Keul v. Hodges Blvd. Presbyterian Church. The post begins as follows:

This decision deals with whether a POD designation can be invalidated for undue influence , as well as the right
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Bill Gates – The Best Books I Read in 2015

Bill Gates writes about the best books he read in 2015 in a recent blog post. He highlights a common theme that they all  shared, which he calls “how things work”. The post begins as follows:

I just looked over the list of books I read this year, and I

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Julius H. Giarmarco: 25 Year-End Estate Planning Tips (Part 2/3)

By Julius H. Giarmarco

Part 1 / Part 2 / Part 3

Don’t let the chaos of the holiday season prevent you from minimizing federal estate taxes and fine-tuning your estate plan. What better gift for your heirs than avoiding the 40% federal estate tax and making sure your affairs … Continue reading

Estate Planning Pitfall – You’re selling your interest in a charitable remainder trust

E. Hans LundstenJoseph Marion, III, and David Riedel  of Adler Pollock & Sheehan P.C., write about recently finalized regulations that could erase a potential tax shelter related to a charitable remainder trust. The article begins as follows:

Recently finalized regulations eliminate a potential tax shelter

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Year-End Tax Planning 2015

David M. Watts, Jr. of McNees Wallace & Nurick LLC writes about strategies for lowering tax bills as the year comes to an end with market volatility and overall economic uncertainty still looming on the horizon. The article begins as follows:

s the end of the year approaches, it is a

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Exculpatory Clause Does Not Apply To The Trustee’s Decision On Whether Beneficiaries Violated A No Contest Clause

Gerry W. Beyer of Texas Tech Univeristy Law School writes about a recent Virginia Supreme Court Decision, Rafalko v. Georgiadis, No. 141533, 2015 WL 6746821 (Va. Nov. 5, 2015)in which the court examines the relationship between an exculpatory clause and the possible violation of a no contest clause by … Continue reading

Zachary A. Cohen: ‘‘All’s Well That Ends Dwell’’ — Tax Planning Strategies to Divest, Diversify or Monetize Investment Real Estate

Zachary A. Cohen, of US Trust, has authored the following article, published in Bloomberg BNA’s Tax Management Memorandum: ‘‘All’s Well That Ends Dwell’’ — Tax Planning Strategies to Divest, Diversify or Monetize Investment Real Estate.  This article describes several strategies that individuals may use to divest, diversify or monetize investment real … Continue reading

Deloitte Summary of Extenders Package, PATH Act

Deloitte has released its preliminary summary of the Congressional extenders package or PATH Act (Protecting Americans from Tax Hikes Act of 2015).

The statutory language of the Path Act is located by clicking: PATH Act Language.

The House Ways and Means Committee summary is located by clicking: PATH Act SummaryContinue reading

Will Technology Create More Legal Jobs Than It Destroys?

Paul Carson writes about the relationship between technology and occupations in order to see if the proliferation of computers in the work place actually translates to job loss and wage inequality. The article begins as follows:

This paper investigates basic relationships between technology and occupations. Building a general occupational model,

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Linda Kotis: Salvaging the 2015 Roller Coaster Ride with Your Retirement Accounts: Roth IRA Conversion

By Linda Kotis

The stock market has been full of crazy swings this year.  Your retirement accounts were buoyed by the 1.2% gain in the Dow Jones Industrial Average on January 8.  Then you cringed as account values bounced around in March with a 333 point drop. You nearly fainted … Continue reading

Clarence McDonald Leland, Jr. v. Commissioner: Tax Court Holds City Attorney Operating Farm Materially Participated in Farm Activity

In Clarence Mcdonald Leland, Jr. v. Commissioner, T.C. Memo 2015-240, the Tax Court held that an attorney practicing law in Jackson Mississippi who operated a farm in Texas materially participated in the farming activities for Code Sec. 469 passive activity loss purposes.

The court stated the following as part … Continue reading

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