Expiring Opportunity to Make Large Gifts: Time is running out on the ability to give away US$5.12 million (US$10.24 million for married couples) without paying Federal gift tax. The extension of the "Bush Tax Cuts" that...more
As of this writing, it’s difficult to speculate as to what U.S. income tax rates will be in the year 2013. This has become especially apparent due to the effect of the so-called “fiscal cliff” and the results of the November...more
This Alert is designed to offer easy to understand and easy to implement year-end tax strategies in times of incredible tax uncertainty. This Alert is also designed to stimulate thought and inspire action during one of the...more
In This Issue:
Year-End Tax Planning -
Year-end planning is a bigger challenge this year than in past years because, unless Congress acts, tax rates will go up next year, many more individuals will be snared by...more
Ready, set, go! Following the Presidential election last night, the race is on for year-end tax planning and bracing for the fall off the fiscal cliff.
While no one can tell exactly what the tax outcome will be after...more
Originally published in Tax Management Estates, Gifts, and Trusts Journal, x, 11/08/2012.
The current tax environment suffers from a lot of economic and political uncertainty. The general consensus...more
In This Issue:
Excerpt from Year-End Tax Planning Steps for Private Equity
The last time the Bush tax cuts were set to expire at the end of 2010, we saw numerous clients scrambling to execute end-of-the-year...more
In December 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the “2010 Act”) extended the Bush tax cuts through December 31, 2012 and, among other things, increased the gift, estate,...more
With 2012 drawing to a close, many Americans may see the end of “Bush-era” income tax cuts as well as significant estate and gift tax reductions, the loss of which will dramatically affect their tax liability in 2013 and...more
It is not too early to start planning income tax steps to take before year-end. The Patient Protection and Affordable Care Act introduced two new taxes that will go into effect January 1, 2013. These are a 3.8 percent...more
This outline is not intended to be a comprehensive outline, but is intended to be a helpful resource summarizing the federal income tax and cited financial planning opportunities available before December 31, 2012 for...more
In case you have been in the trenches or out at Sea since the beginning of the year, here is what the tax landscape looks like going forward into 2013. The Bush tax cuts are due to expire at the end of 2012 absent tax reform...more
The estate and gift tax laws under the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, are scheduled to sunset on December 31, 2012. These laws provide opportunities to transfer assets to...more
The Clock is Ticking: The tax law is set to change in a radical way and opportunities may cease to exist at midnight on December 31, 2012.
History: To understand the impending deadline, a little history is in order....more
Year-end tax planning is especially challenging this year because of uncertainty over whether Congress will enact sweeping tax reform that could have a major impact in 2012 and beyond. Even if there is no major tax...more