Wealth Strategies Journal

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Category: Financial Planning (page 1 of 7)

[T&E Podcast 10/31] – This Week in Wealth (Transfer) with Salvatore LaMendola

Please click the play button below to listen to This Week in Wealth (Transfer) with Salvatore LaMendola (week of 10/31/16)

Past installments of this series can be found on our Podcast page and ITunes

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Edwin Morrow – The Hunt for Tax Apportionment: Lessons from Tom Clancy’s Estate Litigation

The Hunt for Tax Apportionment: Lessons from Tom Clancy’s Estate Litigation

Edwin Morrow 

The Hunt for Red October was Tom Clancy’s debut novel in 1984.  It was a fun, exciting novel written in the Reagan, pre-Glasnost era about a rogue Soviet (remember the Soviet Union?) submarine captain, later turned … Continue reading

Alexandre M. Denault & Jonathan E. Gopman – Treasury Department Extends Form 5472 Filing Requirements to Foreign-Owned Domestic Disregarded Entities

Treasury Department Extends Form 5472 Filing Requirements to Foreign-Owned Domestic Disregarded Entities

By: Alexandre M. Denault & Jonathan E. Gopman

On May 10, 2016, Treasury issued proposed regulations (the “Proposed Regulations“) which enable the Internal Revenue Service (the “Service“) to collect certain information about domestic disregarded … Continue reading

Julius H. Giarmarco: Transfers of FLP and FLLC Interests Require Immediate Attention

By Julius H. Giarmarco

Family limited partnerships (FLPs) and family limited liability companies (FLLCs), if properly structured, are attractive vehicles for administrative convenience; income, estate and gift tax savings; and creditor protection. It is important that an FLP or FLLC be formed for valid business purposes and not merely as … Continue reading

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

The Computer as a Financial Planner: Robo Advisers

Paul Sullivan, in his weekly New York Times column, Wealth Matters, writes about Robo Advisers.  His article begins as follows:

COMPUTER-GENERATED investment advice has gotten a lot of attention in the last few years. And for good reason.

Many web-based services have given investors with smaller portfolios access to advice

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Financial Planning Software Of The Past, Present, And Future – Calculation, Collaboration, and Continuous Planning

Michael Kitces writes about the ongoing evolution of financial planning software.  His article begins as follows:

For much of its history, financial planning software was basically just an elaborate calculator. Advisors could gather client data, feed it as input to the calculator tool, and the software would spit out the

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Limits On Tax Deductions For Financial Planning And Retainer Fees, And The (Tax) Problem With Bundled AUM Fees

Michael Kitces writes about limits on tax deductions for financial planning and retainer fees, and tax issues that arise with bundled fees.  His article begins as follows:

Under the Internal Revenue Code, expenses for investment management are tax deductible. Accordingly, taxpayers are permitted to deduct the typical assets-under-management (AUM) fee

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Estate Planning Remains Important Even If Ohio Repeals Estate Tax

Ohio’s move of repealing estate tax and the increase in federal estate tax exemption equivalent has brought about perception that estate planning is no longer important since no estate taxes will be posted upon one’s death. However, this is not true. Coming up with an estate plan saves time and … Continue reading

IRS Tax Tip Regarding Filing Status

It’s time filing for tax return of year 2014. The Internal Revenue Services (the IRS) recently released tax tip regarding how to choose among five filing statuses, which are single, married filing jointly, married filing separately, head of household, and qualifying widow(er) with dependent child. An individual’s marital status on … Continue reading

Winter Getaways Raises Medical Expenses

As retirees move away from up north to Florida, they are likely to face more medical tests than they would have done back home. Since Medicare has strict regulations on prices and procedures of medical testing, doctors can easily increase the items and volumes of testing. According to researches, Florida, … Continue reading

IRS Tips Individuals about Tax Return as to Exemptions and Dependents

The Internal Revenue Service (IRS) released its latest tips on tax return for individuals. This issue involves ten tax facts about exemptions and dependents, with regard to e-file, personal exemptions and exemptions for a dependent, health-care coverage report, disqualified persons and special situations that dependents need to file.

See IRS … Continue reading

49th Annual Heckerling Institute on Estate Planning (Jan 13th)

The following are summaries of the presentations from the 49th Annual Heckerling Institute on Estate Planning. For the official brochure and list of events, see  http://www.law.miami.edu/heckerling/pdf/2014/heckerling-brochure.pdf. For the full Heckerling reports, see http://www.americanbar.org/groups/real_property_trust_estate/events_cle/heckerling_reports.html.


Diana Zeydel on the New Portability Regime

The presentation began with Zeydel assuring attendees that despite … Continue reading

49th Annual Heckerling Institute on Estate Planning (Jan 14th)

The following are summaries of the presentations from the 49th Annual Heckerling Institute on Estate Planning. For the official brochure and list of events, see  http://www.law.miami.edu/heckerling/pdf/2014/heckerling-brochure.pdf. For the Heckerling reports, see http://www.americanbar.org/groups/real_property_trust_estate/events_cle/heckerling_reports.html.


M. Read Moore on Tax Administration and Procedural Rules for Estate Planners

Moore’s presentation focused on the … Continue reading

Impact of Continue Working after Early Retirement in Reduced Social Security Benefit

For financial advisors, it is a complicated issue to advise their clients to resume working after they start receiving social security benefits. The amount of reduction of the benefits caused by continued working after retirement depends on when the client chooses retire before the Full Retirement Age (FRA). The Excess … Continue reading

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