The 2010 Tax Relief Act and your estate plan
A Better 2012 for BigLaw (With Big Asterisks)
From 31 October 2015, Scottish local authorities will have freedom to implement targeted business rates relief schemes within their own areas. The power to do so is introduced by section 140 of the Community Empowerment...more
The North Carolina General Assembly passed two significant pieces of legislation affecting corporate activity, expansion and new investment in North Carolina.
First, the General Assembly passed the state budget...more
El pasado 14 de septiembre de 2015 el Director de la Dirección de Impuestos y Aduanas Nacionales, expidió el Formulario No. 160 para la presentación de la “Declaración Anual de Activos en el Exterior”.
In a typical employer-employee relationship, the employer and employee each pay half of the Medicare tax due. However, the owners (called “members”) of a limited liability company (“LLC”) are usually considered self-employed...more
NUMBER OF THE WEEK: 10 percent. Rate of the one-time deemed repatriation tax on U.S. multinationals’ foreign earnings under GOP presidential candidate Donald Trump’s tax plan released Sept. 28. The revenue raised through...more
Please see Charts below for more information....more
Private Wealth Services partner, Michelle R. Canerday, and Corporate & Securities partner, Robert G. Gerber, recently co-authored the article "Dynasty Trust Planning: A Tax-Efficient Way to Manage Wealthy Families' Assets,"...more
Governor Robert Bentley called a second special session of the Alabama Legislature on Tuesday, September 9 at 5 p.m. to address the FY 2016 General Fund budget and associated revenue measures. After meeting for...more
On September 14, 2015, the IRS released proposed regulations (the “Proposed Regulations”) that would significantly alter the treatment of outbound transfers of foreign goodwill and going concern value by a U.S. person to a...more
Today, the Dutch Ministry of Finance published its Tax Plan 2016. In fact, the government sent six separate Bills to Parliament (one on 11 September and the other five on 15 September). Hereinafter we will refer to these six...more
The IRS issued guidance on Tuesday dealing with first-year bonus depreciation.
The Tax Increase Prevention Act of 2014 amended Section 168(k)(2) by extending the one year placed-in-service date for property that...more
Usually, estate planning involves the creation of an updated will, a health care directive, and assigning a power of attorney. But sometimes an estate needs more, especially when a large or growing inheritance is involved....more
With the top tax bracket at nearly 40 percent, Indian tribes making substantial per capita distributions are asking what they can do to reduce their members’ tax liabilities. One option to consider is a deferred per capita...more
Please see chart below for more information....more
On September 9, 2015, the IRS released long-awaited proposed regulations under Internal Revenue Code (Code) section 2801, which imposes a tax on the recipient of a gift or bequest from certain individuals who relinquished...more
The federal Internet Tax Freedom Act (“ITFA”) is scheduled to expire on October 1, 2015, unless Congress extends it. The Massachusetts Department of Revenue (“DOR”) issued TIR 15-8 on September 9, 2015, advising internet...more
Marvin sold his principal residence for $1.4 million on an installment basis. He reported current gain of $657,796, and excluded $500,000 of that gain from income under Code Section 121 as a sale of a principal residence. The...more
The Maine Legislature ended its tumultuous session on July 16, 2015. After an advisory opinion by the Maine Supreme Court, we now know which bills actually became law. As usual, a number of significant tax issues were...more
According to recent estimates, Estonia, which is situated halfway between Stockholm and St. Petersburg, currently has more than 350 start-up technology companies – one for every 3,700 citizens – and the government expects...more
On June 29 and 30, 2015, the Connecticut General Assembly conducted a special legislative session following the close of the 2015 regular session. Among other things, the General Assembly passed a bill to implement the state...more
Recently introduced bills are indicative of the fact that the estate, gift and generation skipping transfer taxes are still a topic of considerable political debate.
Recently, the Responsible Estate Tax Act was...more
Generally, the first criterion for determining whether an individual is subject to probate or to estate or inheritance tax in a state is the individual’s domicile at the time of his or her death.
In an increasingly...more
Because of the increases to the income tax rates and the reduction in the estate tax rates in recent years, anyone holding appreciated assets in a grantor trust should consider exchanging high-basis assets that have less...more
Upcoming IRS regulations may significantly limit and reduce planning opportunities to transfer minority interests in closely held entities to family members and increase the transfer tax cost associated with moving such...more
The Conservative Government has settled in and turned its attention to the world of employment law. We update you below on five of its key moves.
1. Gender Pay Gap Reporting - The Government will enact legislation...more
Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up to create your digest using LinkedIn*
Back to Top