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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 -

Tax planning for private corporations and their shareholders - converting income into capital gains

by Dentons on

On October 19, 2017, the Department of Finance Canada issued a news release advising that it will not move ahead with proposed measures intended to target the conversion of income into capital gains. The announcement is the...more

Unified Credit for Estates & Annual Exclusions for Gifts Increased for 2018

by Tucker Arensberg, P.C. on

The IRS announced that the Unified Credit for Estates and Annual Exclusion for Gifts will be higher in 2018. Unified Credit Against Estate Tax. For an estate of any decedent dying in calendar year 2018, the basic...more

Time to Prepare for the End of the Year - Part Two

by Poyner Spruill LLP on

The end of the year is rapidly approaching! To avoid costly penalties that can arise from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by...more

Department of Revenue Issues Favorable Ruling for Tax Credit Scholarship Donors - State & Local Tax Alert: Alabama Edition

Since the landmark Alabama Accountability Act was enacted in 2013, allowing individual and corporate donors to provide scholarship funds for underprivileged children in our state who are zoned for underperforming public...more

Executive Compensation Alert: IRS Filing and Reporting Requirements for ISO Exercises and ESPP Stock Transfers

by Fenwick & West LLP on

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

Deadline Approaching for Reporting 2016 ISO Exercises and ESPP Transfers

by Goodwin on

Section 6039 of the Internal Revenue Code requires corporations to provide information statements to employees (including former employees) and information filings to the IRS regarding exercises of incentive stock options...more

2016 Year-End Trusts & Estates Update

As 2016 comes to a close, we would like to share with you a number of recent developments affecting trust and estate planning that may be of interest: Final regulations restricting valuation discounts unlikely to be...more

Year End Gifting

by Farrell Fritz, P.C. on

Each December I usually write about year-end gifting, as now is the time that many people think about gifting to loved ones, especially with the holidays upon us. In addition to making you, as well as the beneficiary of your...more

Year End Tax Planning 2016

Proper year-end planning can help alleviate any unnecessary tax burden. While little happened in the way of tax legislation in 2016, there are certain tax breaks from which you may benefit and certain strategies that can be...more

Personal Tax and Estate Planning Considerations for the End of 2016

The end of the year is always a good time for our clients to look at their personal tax and estate planning situation and consider whether to take any action before Dec. 31. This year, with the Trump administration about to...more

Year-End Tax Planning with Tax Credit-Funded Scholarships

The Alabama Accountability Act provides state income tax credits to certain donors who make contributions to a state-approved scholarship granting organization (SGO). Alabama’s neediest school children can be helped at little...more

Renewed Perils from “Zeroing Out” a Corporation at Year-End

by Dickinson Wright on

Physicians who are involved in the financial management of their practices are all too familiar with the year-end scramble to “zero out” the corporation’s profits. Under this technique, a physician practice that is structured...more

Healthcare Legal News: Volume 6, Number 2

by Dickinson Wright on

Restrictions on Fees Permitted under HIPAA for Copies of Medical Records - When health care providers provide copies of medical records to an individual patient or to third parties at the direction of that individual...more

Alert: Year-End Reporting for ISOs and ESPPs

by Cooley LLP on

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

by Pessin Katz Law, P.A. on

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

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

by Bryan Cave on

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

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

by Farella Braun + Martel LLP on

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

by Sherman & Howard L.L.C. on

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

by Sherman & Howard L.L.C. on

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"

by Nexsen Pruet, PLLC on

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

by Dentons on

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?

by Pessin Katz Law, P.A. on

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

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