Estate Taxation

  • Planning for the Stars: Estate and Insurance Planning for Entertainers and Professional Athletes

    By:
    K. Eli Akhavan, Esq., and Jonathan I. Shenkman
    |
    Feb 1, 2017

    This article is the second in a two-part series about some of the types of planning for entertainers and professional athletes. To read the first part published in the January 2017 TaxStringer, “Planning for the Stars: Financial & Investment Planning for Entertainers and Professional Athletes,” please click here.

  • Rev. Proc. 2016-49: QTIP Elections Designed to Take Advantage of Portability of the Deceased Spousal Unused Exclusion Amount Will Not Be Disregarded

    By:
    Kevin Matz, Esq., CPA, LLM (Taxation)
    |
    Feb 1, 2017

    Revenue Procedure 2016-49 answers in the affirmative the question of whether the IRS will respect a qualified terminable interest property (“QTIP”) election where the executor has elected portability of the deceased spousal unused exclusion (“DSUE”) amount under IRC section 2010(c)(5)(A).  

  • Tax Implications of Purchasing Real Estate from a Foreign Person—What You Need to Know

    By:
    Linda M. Bruckner, CPA
    |
    Feb 1, 2017

    Many tax clients think that the tax withholding rules apply only to those in business. They are familiar with withholding on employee wages and may have even needed to withhold tax on income allocated or paid to a foreign investor in their company; however, most clients do not expect a federal tax withholding requirement when making payments for personal purposes—which is why the rules surrounding the purchase of a home may come as a surprise.

  • Pre- and Post-Mortem Planning

    By:
    Elana S. Bronson, Esq.
    |
    Jan 1, 2017
    When a client is nearing the end of his or her life, advisors should be aware of both pre- and post-mortem planning opportunities. While the majority of this article will focus on tax planning techniques, there are also practical considerations. This article is not exhaustive, but is intended to serve as a helpful guide for practitioners.  
  • What if Your Spouse Doesn't Want to Study? Visa Requirements for U.S. Tax Practitioners

    By:
    Luciana Zamith Fischer
    |
    Nov 1, 2016
    In a globalized world, where investment and trade continues to flow across borders, investors and companies find it difficult to understand the complexities imposed by countries based on notions of sovereignty and national security. 
  • Why the Estate Tax Should Concern Us All

    By:
    Daniel Mazzola, CPA, CFA
    |
    Oct 1, 2016

    During the week of Aug. 7, presidential candidates Hillary Clinton and Donald Trump revealed their respective tax policies in major speeches to partisan audiences. While the presentations contained such jargon as marginal rates, inversions, and expenditures, the programs can be summarized as follows: Corporate America—along with the wealthy—will bear the brunt of Mrs. Clinton’s progressive agenda in the form of higher taxes, while these two groups would see their taxes reduced under a Trump regime. This is the choice Americans face in November.

  • Who Do You Want Making Decisions About Your Online Accounts If You Die or Become Incapacitated? A Proposed New York Statute Would Give You the Right to Choose

    By:
    Kadeen Wong, Esq., and Kevin Matz, CPA, Esq., LLM
    |
    Sep 1, 2016
    Have you ever wondered what will happen to the contents of your Facebook, LinkedIn, and personal e-mail accounts if you die or become incapacitated? Does your family know what accounts you have? Do they have the authority to access, use, or terminate those accounts? 
Page

 
Views expressed in articles published in Tax Stringer are the authors' only and are not to be attributed to the publication, its editors, the NYSSCPA or FAE, or their directors, officers, or employees, unless expressly so stated. Articles contain information believed by the authors to be accurate, but the publisher, editors and authors are not engaged in redering legal, accounting or other professional services. If specific professional advice or assistance is required, the services of a competent professional should be sought.