Year-End Tax Planning

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.  less -
News & Analysis as of

Alert: Year-End Reporting for ISOs and ESPPs

This alert serves as a reminder of certain year-end reporting requirements imposed under Section 6039 of the Internal Revenue Code of 1986, as amended, with respect to incentive stock option exercises and transfers of stock...more

Congress and the President Find Their Way Along a PATH

As previously reported in the PK Law Newsletter, tax planning for the end of 2015 was hampered by the expiration of a number of “temporary” tax provisions routinely extended for a one or two year period by Congress. Congress...more

2015 Year-End Estate Planning Advisory

The end of the year is quickly approaching. Outlined below are reminders about a number of tax planning opportunities that, if you have not already done so, you may want to take advantage of before year-end. Also outlined...more

To Do: Year-End Gifting. Check (or not)

With the end of the year approaching, we thought now would be a good time to re-post and update this blog from the end of 2014. For 2016, the annual exclusion gift amount will remain the same at $14,000 but the lifetime...more

High Net Worth Family Tax Report, Vol. 10, No.3

Don’t Forget Year-End Gifts, etc. - A variety of planning steps should be considered before the end of the year. One of these is to make any $14,000 annual exclusion gifts you wish to make. This annual exclusion amount...more

Year-End Tax Tips

As 2015 comes to a close, folks have a lot on their plates – and that’s not just from the holiday hors d’oeuvres being passed around. A variety of different individual and business objectives use December 31st as a deadline...more

Year-End Employment Tax Alert– Withholding FICA Taxes on Non-Qualified Deferred Compensation Benefits

Under a special timing rule contained in the federal tax regulations, benefits earned under a non-qualified deferred compensation plan are generally subject to Social Security and Medicare employment taxes (FICA taxes) as of...more

Year-End Checklist for Tax-Exempt Organizations

As the holidays approach and 2015 comes to a close, Officers and Directors are well advised to confirm that important year-end responsibilities have been addressed. Even if your organization has a fiscal year end other than...more

Year-End Tax Planning 2015

As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Factors that compound the challenge include turbulence in the stock...more

2015 Year-End Tax Planning for Businesses

As 2015 draws to a close, there is still time to reduce your 2015 taxes and plan ahead for 2016. This advisory highlights several potential tax-saving opportunities for business owners to consider. ...more

2015 Year-End Tax Planning

As 2015 draws to a close, there is still time to reduce your 2015 taxes and plan ahead for 2016. This letter highlights several potential tax­saving opportunities for you to consider. We welcome the opportunity to meet with...more

"Tips from IRS for Year-End Gifts to Charity"

On November 25, the Internal Revenue Service published "Tips from IRS for Year-End Gifts to Charity." The goal was to remind "individuals and businesses making year-end gifts to charity that several important tax law...more

Insight on Estate Planning - Year End 2015

Paying for LTC insurance using a tax-free exchange - Nothing can throw a monkey wrench into an estate plan like incurring long-term care (LTC) expenses. These expenses — for nursing home stays, assisted-living...more

Changing income tax rates in Alberta – planning considerations

In a recent article, we described the changes to income tax rates that the provincial government has enacted and the increase to income tax rates that the incoming federal government has pledged to enact. Due to the magnitude...more

“Is Better Late Than Never” Really Better?

Many may be unaware that tax provisions which expired at the end of 2014 may be retroactively renewed as a result of budget talks in Congress. Those talks, the handling of expired tax provisions, and the ever increasing...more

Great Tax Planning Opportunity

Undoubtedly, right before the end of the year, you were inundated with information about steps you could take as part of the year-end tax planning for your practice. While the end of the year does offer great tax planning...more

Tax Law Blog: Sharing Financial Responsibility at Tax Time

It's the end of January, and I imagine all of those tax documents are starting to arrive, including W2's and 1099's. For couples, maybe just one spouse handles the finances and taxes, whether by actually preparing them, or by...more

End of 2014 Tax Law Changes

ABLE Accounts: A new law titled “Achieving a Better Life Experience” (ABLE) allows the establishment of tax-free accounts that can be used to save for disability-related expenses. ABLE accounts can be created by individuals...more

‘Tis the Season

Beginning in mid-December, the holiday season in the U.S. really starts to run on all cylinders. Whether you’re celebrating Hanukkah (beginning December 16), Winter Solstice (December 21), Festivus (December 23 – see...more

IRA Charitable Rollover Extended

For some, the end of the calendar year means more than just the deadline for charitable contributions for the tax year. December 31 is also the deadline to take certain mandatory distributions from individual retirement...more

Deferral Elections for 2015 Compensation

As reported in Part 3 of our 2014 End of Year Plan Sponsor “To Do” List, employers that sponsor deferred compensation programs should take action to ensure that deferral elections that apply to compensation that will be...more

Six IRS Rules to Follow for Year-End Gifts to Charity

The holiday season is often a time for charitable gift giving. Here is a list of tax rules to follow to ensure your charitable deduction is respected by the IRS: - Qualified Charities. You can only deduct gifts to...more

'Tis the Season for Year-End Charitable Gifts

As you are making your list and checking it twice, you might want to consider whether you want to make any year-end gifts to your favorite charities. If you do, you will be in good company. According to the National...more

Tax Blog: Tax Tips for Gifts to Charity

As the holidays approach and the end of the year draws near, the IRS has again released its list of tips for giving to charity. Of course, these rules apply to obtaining a legitimate tax-deduction for the donation. If that is...more

Personal Planning Strategies - December 2014

2015 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following...more

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