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
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
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
As the current federal estate/gift tax law is scheduled to expire on December 31, 2012, this is an opportune time to take advantage of the planning techniques available under current law and to avoid being subject to newly...more
At the end of 2010, Congress passed, and President Obama signed into law, significant changes in the estate, gift and generation-skipping transfer (“GST”) tax regime. The 2010 tax legislation extended the so-called “Bush Tax...more
Although the end of the year is several months away, it is time to think about taking advantage of the generous tax savings that may be available for 2012 only. The 2010 Tax Act made significant changes to the 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
The last three years have witnessed substantial changes in federal estate and gift tax laws and more changes are undoubtedly coming. Such changes offer a number of opportunities for clients to achieve their estate planning...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
As we enter the second half of 2012, it is important to consider certain time-sensitive estate and gift planning opportunities. The gift and GST tax exemptions were increased to $5,120,000 for 2012 – the highest exemptions in...more
The window of opportunity to take advantage of the currently applicable wealth transfer tax laws is rapidly closing, and once shut, it is possible that we may never see such generous estate planning opportunities again. ...more
Bay Area families that have yet to take advantage of the current gift tax exemption are running out of time. As of midnight on December 31, 2012, the $5 million exemption disappears and will be replaced by a $1 million...more
The very favorable estate and gift tax planning environment that currently exists could be nearing an end. This Client Alert will have special interest to anyone who has a sizable estate and wants to minimize their family’s...more
The next six months provide a short window of opportunity to make substantial gifts without incurring any gift tax. The Federal gift tax exemption is currently $5,120,000, enabling an individual to make aggregate lifetime...more
As our clients know from our prior alerts, the last few years have seen unprecedented changes in the federal tax on gifts and bequests. One element of this was the unexpected increase in the federal gift and estate tax...more
Significant estate tax planning opportunities which are available under current legislation may be eliminated or severely restricted after December 31, 2012. It is therefore critical to evaluate whether steps should be...more
2012 Wealth Transfers - Trusts & Estates Law Alert The Sun Sets on 12/31/12 February 27, 2012 By: Meyer, Suozzi, English & Klein's Trusts, Wills and Estates Attorney Patricia Galteri Time flies The favorable...more
As many of you already are aware, on December 17, 2010, Congress passed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "Act"). The Act provides for the following: - For 2011,...more
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