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Income Taxes › Trustees

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Rivkin Radler LLP

Trust Beneficiary Engages In Like Kind Exchange Using Trust Property

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It is a basic principle of the income tax that the gain or loss realized by a taxpayer from the conversion of property into cash, or from the exchange of property for other property that differs materially in kind from the...more

Strafford

[Webinar] New IRS Guidance on Basis Adjustments for Irrevocable Grantor Trusts: Key Issues for U.S. and Non-U.S. Persons - June...

Strafford on

This CLE/CPE webinar will provide estate planners insight on recently issued IRS guidance regarding basis adjustments for irrevocable grantor trusts. The panelist will discuss key items and challenges stemming from Revenue...more

DarrowEverett LLP

Maximizing QSBS Benefits with Estate Planning: The Art of Stacking

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The number of taxpayers seeking the benefits of Qualified Small Business Stock (“QSBS”) has picked up steam in recent years, particularly since the Tax Cuts and Jobs Act (“TCJA”) lowered the federal corporate tax rates to...more

Husch Blackwell LLP

Understanding the Unique Benefits of Beneficiary Intentionally Defective Irrevocable Trusts (BIDITs)

Husch Blackwell LLP on

A Beneficiary Intentionally Defective Irrevocable Trust (BIDIT) provides a unique planning opportunity because it allows a beneficiary to continue to benefit from his or her own assets while maintaining some level of control...more

International Lawyers Network

Establishing a Business Entity in Singapore (Updated)

International Lawyers Network on

Registration of Business Entities - Unless exempted, business entities must be registered with the Accounting and Corporate Regulatory Authority (ACRA) via their business filing portal: BizFile+. A foreigner residing...more

Keating Muething & Klekamp PLL

Recent IRS Decision Threatens Some Irrevocable Trust Modifications

Keating Muething & Klekamp PLL on

A recent Chief Counsel Advice issued by the IRS has been described by one team of estate planning experts as “the most important IRS ruling in a decade,” and it directly contradicts the prior IRS position on the issue. Should...more

McNees Wallace & Nurick LLC

Bond Issue Fundamentals: A Guide to the Participants and the Process - Updated

McNees Wallace & Nurick LLC on

A bond issue (a debt obligation of a local government) is often perceived as a mystery for many Pennsylvania local government officials and solicitors. The securities and tax regulations governing municipal bonds have grown...more

Adler Pollock & Sheehan P.C.

Should You Place Your Home in a QPRT?

Adler Pollock & Sheehan P.C. on

If you own your principal residence, you may be able to benefit from its build-up in equity, realize current tax breaks and pocket a sizeable tax-exempt gain when you sell it. What’s more, from an estate planning perspective,...more

Proskauer Rose LLP

Wealth Management Update - August 2023

Proskauer Rose LLP on

The August 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, an increase from the July 2023 rate of 4.6%. The August applicable federal rate (“AFR”) for use with a sale...more

Patterson Belknap Webb & Tyler LLP

Introducing the GOAT Trust

Patterson Belknap Webb & Tyler LLP on

The menu of tax planning options for founders includes many strategies designed to minimize income taxes upon liquidity events and to provide for wealth preservation across multiple generations. To achieve those benefits,...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Trust Planning 101: Grantor Trusts - June 20th, 12:00 pm - 12:45 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on

Grantor trusts allow for tax deductions on income generated by trust assets whereas non-grantor trusts do not allow for these deductions. It is crucial for people to carefully decide which type of trust is best for their...more

International Lawyers Network

Establishing A Business Entity In Singapore (Updated)

International Lawyers Network on

Registration of Business Entities - Unless exempted, business entities must be registered with the Accounting and Corporate Regulatory Authority (ACRA) via their business filing portal: BizFile+. A foreigner residing...more

McDermott Will & Emery

International News: Spotlight on Tax

McDermott Will & Emery on

INTRODUCTION TO US TAXATION OF NFTS - Despite Non Fungible Token (NFT) sales hitting nearly US$21 billion by the end of 2021, making NFTs almost as valuable as the global art market, they are currently completely ignored...more

International Lawyers Network

Establishing A Business Entity In Singapore (Updated)

International Lawyers Network on

Registration of Business Entities - Unless exempted, business entities must be registered with the Accounting and Corporate Regulatory Authority (ACRA) via their business filing portal: BizFile+. A foreigner residing...more

International Lawyers Network

Buying and Selling Real Estate in Ecuador (Updated)

International Lawyers Network on

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ECUADOREAN LAW - I. STANDARD FORMS OF AGREEMENTS - A. Offer to Purchase sets forth Buyer’s offer of price, date for closing, contingencies for inspections, financing etc....more

Rivkin Radler LLP

The Tax “Do-Over” – Is There Such a Thing?

Rivkin Radler LLP on

If Only- Have you ever wondered what trajectory your career or business would have taken had you done something differently? Have you ever wished you could turn back the clock to correct a mistake, to complete an...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Schwabe, Williamson & Wyatt PC

Three Estate Planning Proposals to Watch

Schwabe, Williamson & Wyatt PC on

House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the...more

International Lawyers Network

Establishing A Business Entity In Singapore

International Lawyers Network on

Registration of Business Entities - Unless exempted, business entities must be registered with the Accounting and Corporate Regulatory Authority (ACRA) via their business filing portal: BizFile+. A foreigner residing...more

Bowditch & Dewey

When to Take Advantage of a Spousal Lifetime Access Trust (SLAT)

Bowditch & Dewey on

Under the Tax Cuts and Jobs Act, in 2020 each person may transfer up to $11,580,000 without incurring a gift or estate tax. This generous exemption amount will sunset at the end of 2025, which means that in 2026, the...more

Holland & Hart LLP

Wyoming Situs

Holland & Hart LLP on

We are seeing an increasing number of clients that want to situs trusts in Wyoming due to its favorable trust law and lack of state income tax, although over the last several months clients have also sought the open spaces of...more

Gerald Nowotny - Law Office of Gerald R....

THE PAPER CHASE

Gerald Nowotny - Law Office of Gerald R.... on

THE PAPER CHASE - Using the Loan Method of Split Dollar as an alternative to attorney fee deferrals. 1) Defer fees. 2) Once deferred convert fees into tax free income. 3) Reposition in a Structured Settlement Life Insurance...more

McDermott Will & Emery

[Webinar] US Taxation of Grantor/Non-Grantor Trusts - June 24th, 3:00 pm BST

McDermott Will & Emery on

Astrid Owen leads this interactive webinar to discuss the US taxation of US beneficiaries and US settlors of non-US trusts. The benefit of using non-US grantor trusts established by a non-US person for US beneficiaries...more

Ruder Ware

My Deceased Family Member Received a COVID-19 Stimulus Check, Now What?

Ruder Ware on

There has been significant publicity surrounding the issue of deceased individuals receiving stimulus checks under the CARES Act. It is far more common than you may think, simply because of the speed in which our government...more

Barnea Jaffa Lande & Co.

Court Rules an Employee whose Shares in a Company Are Held by a 102 Trustee Has No Shareholder Rights in the Company

Barnea Jaffa Lande & Co. on

The Haifa District Court recently held, in a precedential decision, that an employee who received shares in a company held by a trustee in accordance with section 102 of the Income Tax Ordinance has no shareholder rights....more

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