Year-End Tax Planning refers to the process of structuring assets to ensure an individual or entity receives the most favorable tax treatment under the law. Some aspects of Year-End Tax Planning include... more +
Year-End Tax Planning refers to the process of structuring assets to ensure an individual or entity receives the most favorable tax treatment under the law. Some aspects of Year-End Tax Planning include strategies to maximize deductions, defer income to a future date, take advantage of current laws before they expire at year's end, and establish certain types of specialized trusts, to name a few.
The 2010 Tax Relief Act and your estate plan
A Better 2012 for BigLaw (With Big Asterisks)
Tax Questions to Ask Yourself with the End of 2012 and the Fiscal Cliff Approaching
In early 2012, Kathi Ryan addressed the 2010 Tax Relief Act and your estate planning documents....more
Feb. 7. (Bloomberg Law) -- Law firm profits at a selection of the nation's largest firms increased by 4.3 percent in 2012, but "we do have some concerns about what drove the results," Dan DiPietro, chairman of Citi Private...more
This Client Alert is intended to remind you of certain year-end reporting requirements under Section 6039 of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to stock issued to employees (or former...more
Giving to others is rewarding in and of itself, but it's always nice to see your generosity provide you with a tax benefit and result in a lower tax bill. In our tax law practice we represent many individuals and one of the...more
Time is running out for 2012 gift giving. End of year gifting by check is always an issue for those trying to use their annual exclusion amounts, but in 2012 the issue also relates to those attempting to make larger gifts to...more
Your marital status for tax purposes is determined as of December 31. That means if you get married on New Year's Eve, you are considered married for the entire year and can file as a married couple....more
The Employee Benefits and Executive Compensation team at Polsinelli Shughart have analyzed the potential implications of the new Medicare Tax to their clients' businesses and can provide direct and practical advice on your...more
Just as the end of the year can be a good time to make charitable donations, it can also be a good time to make political contributions for those who give frequently in federal elections....more
Overview - As we approach the edge of the fiscal cliff over the last two weeks of 2012, some of you may be wondering if there is any last minute tax planning that might be done to avoid sending a large check to Uncle...more
As a business owner, all year you have likely been running around acting as manager, developer, business generator, marketer, human resource manager and administrative assistant. Given the numerous roles, it is often tough...more
The recent elections have resulted in essentially no change to the balance of power in the national government. As a consequence, it is now more difficult than ever to predict the future direction of estate and gift tax law....more
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
I'm sure there are people out there who, as we hit December, are saying to themselves, "Gee, this year really going by slowly—should be Spring 2013 already," but for the rest of us—the end of the year is rapidly approaching....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
With the fiscal cliff looming, year-end tax planning is even more difficult in 2012 than ever before. "Will they or won't they" is the question being asked of Congress. "Who knows" is my answer right now. ...more
The Family Pension Plan - Overview: This “Cliff-Hanging” series has focused on strategies to reduce taxation for the current tax year and the impending fall off the Cliff next year. In case you are...more
Now that the election is over, we anticipate having some guidance soon with respect to the numerous tax and planning issues that have been mired in uncertainty for the past two years. Many tax benefits are scheduled to...more
Maximizing Charitable Strategies When Cash is Short 1. Overview - This series has focused on strategies to reduce taxation for the current tax year and the impending fall off the Cliff. This installment will...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
A. Overview - Part I of this series focused on the impact of impending tax increases following the Presidential Election for corporate executives and salaried professionals. Part II of the series will focus on...more
An unprecedented opportunity to make gifts and transfer wealth to family members is set to expire at the end of 2012. The 2010 Tax Act made substantial changes to the federal gift, estate, and generation-skipping transfer...more
With December 31st approaching quickly and the large $5,120,000 gift tax exemption disappearing, many clients are scrambling to make year-end gifts. Our advice has been to make every effort to get appraisals by the end of...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
Just two days ago, Barack Obama was re-elected as President. In addition, the Republican Party retained control of the House of Representatives, while the Democratic Party retained control of the Senate....more
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