Wealth Strategies Journal http://www.wealthstrategiesjournal.com Do More, Better, Faster Fri, 19 Jan 2018 13:09:50 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.2 69559287 SIH Partners, LLLP, 150 TC No. 3 (Jan. 18, 2018): Regs on US Property As Part of CFC Income Held Valid http://www.wealthstrategiesjournal.com/sih-partners-lllp-150-tc-no-3-jan-18-2018-regs-on-us-property-as-part-of-cfc-income-held-valid/ http://www.wealthstrategiesjournal.com/sih-partners-lllp-150-tc-no-3-jan-18-2018-regs-on-us-property-as-part-of-cfc-income-held-valid/#respond Fri, 19 Jan 2018 13:09:50 +0000 http://www.wealthstrategiesjournal.com/?p=6046 In SIH Partners, LLLP, the Tax Court upheld the validity of Treas. Reg. Sec. 1.956-2(c)(1), which provides that any obligation of a U.S. person with respect to which a controlled foreign corporation (CFC) as a pledgor or guarantor is considered U.S. property held by the CFC, and that amounts included in … Continue reading

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KPMG Report: New Tax Law: Issues for Partnerships, S Corporations, and Their Owners http://www.wealthstrategiesjournal.com/kpmg-report-new-tax-law-issues-for-partnerships-s-corporations-and-their-owners/ http://www.wealthstrategiesjournal.com/kpmg-report-new-tax-law-issues-for-partnerships-s-corporations-and-their-owners/#respond Thu, 18 Jan 2018 18:01:11 +0000 http://www.wealthstrategiesjournal.com/?p=6044 Provisions of the new tax law in the United States include changes affecting partnerships, S corporations, and their owners. KPMG has prepared a report about these tax law changes,  New Tax Law: Issues for Partnerships, S corporations, and Their Owners.

Download report by clicking here.

Posted by Lewis J. Saret, … Continue reading

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Green v. United States, Trust Cannot Deduct Unrealized Gain on Property Contributed to Charity http://www.wealthstrategiesjournal.com/green-v-united-states-trust-cannot-deduct-unrealized-gain-on-property-contributed-to-charity/ http://www.wealthstrategiesjournal.com/green-v-united-states-trust-cannot-deduct-unrealized-gain-on-property-contributed-to-charity/#respond Wed, 17 Jan 2018 16:51:06 +0000 http://www.wealthstrategiesjournal.com/?p=6042 In Mart D. Green v. United States, (CA 10, Jan. 12, 2018), the Tenth Circuit, reversing a district court,held that Code Sec. 642(c)(1), which allows trusts a deduction “without limitation” for any amount of gross income paid for a charitable purpose, does not allow a trust a charitable deduction for … Continue reading

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IRS Notice 2018-1: IRS Issues Rules for Revoking Passports for Large Unpaid Tax Debt http://www.wealthstrategiesjournal.com/irs-notice-2018-1-irs-rules-for-revoking-passports-for-large-unpaid-tax-debt/ http://www.wealthstrategiesjournal.com/irs-notice-2018-1-irs-rules-for-revoking-passports-for-large-unpaid-tax-debt/#respond Wed, 17 Jan 2018 16:43:24 +0000 http://www.wealthstrategiesjournal.com/?p=6037 The IRS has issued Notice 2018-1, 2018-1 IRB 299, which outlines IRS procedures for implementing new Code Sec. 7345, which requires the IRS to revoke passports of individuals with “seriously delinquent tax debt.”  The Notice begins as follows:

This notice provides taxpayers with in- formation about the implementation of new

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Simon Archer: Trusts Through the Lens of Insolvency Law http://www.wealthstrategiesjournal.com/simon-archer-trusts-through-the-lens-of-insolvency-law/ http://www.wealthstrategiesjournal.com/simon-archer-trusts-through-the-lens-of-insolvency-law/#respond Wed, 17 Jan 2018 16:38:43 +0000 http://www.wealthstrategiesjournal.com/?p=6034 Simon Archer, Centre for Research in Comparative Law and Political Economy, Osgoode Hall Law School; York University – Osgoode Hall Law School, has made available for download his article, “Trusts Through the Lens of Insolvency Law,” to be published in the Annual Review of Insolvency Law.   The Abstract is as follows:… Continue reading

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Samuel A. Donaldson: Understanding the Tax Cuts and Jobs Act http://www.wealthstrategiesjournal.com/samuel-a-donaldson-understanding-the-tax-cuts-and-jobs-act/ http://www.wealthstrategiesjournal.com/samuel-a-donaldson-understanding-the-tax-cuts-and-jobs-act/#respond Wed, 17 Jan 2018 16:34:20 +0000 http://www.wealthstrategiesjournal.com/?p=6031 Samuel A. Donaldson, Georgia State University College of Law, has made available for download his detailed article, “Understanding the Tax Cuts and Jobs Act.”   The Abstract is as follows:

This manuscript summarizes key provisions of the so-called “Tax Cuts and Jobs Act” affecting United States individuals, small businesses, estates, and

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Sherman + Howard, LLC: Choosing a Business Entity After the New Tax Act and Other Important Business Tax Changes Under the New Law http://www.wealthstrategiesjournal.com/sherman-howard-llc-choosing-a-business-entity-after-the-new-tax-act-and-other-important-business-tax-changes-under-the-new-law/ http://www.wealthstrategiesjournal.com/sherman-howard-llc-choosing-a-business-entity-after-the-new-tax-act-and-other-important-business-tax-changes-under-the-new-law/#respond Thu, 11 Jan 2018 16:03:24 +0000 http://www.wealthstrategiesjournal.com/?p=6028 Sherman & Howard, LLC has made available on its website an article, the first in a five part series, on how to choose a business entity after the enactment of the Tax Cuts and Jobs Act.   The article begins as follows:

Since the reduction of individual tax rates in

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Leimberg.Update.2018.01.10: Tax Cuts + Jobs Act and More http://www.wealthstrategiesjournal.com/leimberg-update-2018-01-10-tax-cuts-jobs-act-and-more/ http://www.wealthstrategiesjournal.com/leimberg-update-2018-01-10-tax-cuts-jobs-act-and-more/#respond Thu, 11 Jan 2018 15:59:53 +0000 http://www.wealthstrategiesjournal.com/?p=6026
  • Martin M. Shenkman, Jonathan G. Blattmachr and Joy Matak on the Tax Cuts and Jobs Act: Impact on Estate Planning and Ancillary Planning Areas
  • Vincent F. Lackner, Jr. – The Tax Bill: An Epic Battle Between Pure Speculation and Absolute
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    The Tax Lifecycle of a Single Member LLC http://www.wealthstrategiesjournal.com/the-tax-lifecycle-of-a-single-member-llc/ http://www.wealthstrategiesjournal.com/the-tax-lifecycle-of-a-single-member-llc/#respond Wed, 10 Jan 2018 13:43:59 +0000 http://www.wealthstrategiesjournal.com/?p=6023 F. Philip Manns Jr., Liberty University – School of Law, Timothy M. Todd, Liberty University School of Law, have made available for download their article, “The Tax Lifecycle of a Single-Member LLC,” published in the Virginia Tax Review. 36 Va. Tax Rev. 323 (2017).   The Abstract is as follows:

    The single-member LLC (SMLLC)

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    Using the Marital Deduction in Settlements http://www.wealthstrategiesjournal.com/using-the-marital-deduction-in-settlements/ http://www.wealthstrategiesjournal.com/using-the-marital-deduction-in-settlements/#respond Wed, 10 Jan 2018 13:40:13 +0000 http://www.wealthstrategiesjournal.com/?p=6020 Brett Bueltel, University of Southern Indiana, Margaret Ryznar, Indiana University Robert H. McKinney School of Law, and Jamie Seitz, University of Southern Indiana – School of Business, have made available for download their article, “Using the Marital Deduction in Settlements,” Tax Notes, Vol. 157, No. 5, pp. 667-673, (October 2017).

    The Abstract is as follows:

    This article

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