Estate Taxation

  • Strategies to Maintain the Individually Owned or Trust-Owned Life Insurance Policy

    By:
    Henry Montag, CFP
    |
    Aug 1, 2017
    Over the years, many have called attention to the problem of prematurely expiring life insurance and what CPAs and attorneys need to know in order to advise and assist their clients’ trustees (usually an eldest son or daughter) regarding the performance and monitoring of the life insurance policy for which they are responsible. 
  • Asset Management Companies May Have Unknown State Tax Liabilities

    By:
    Brian Rebhun
    |
    May 1, 2017

    States continue to embrace economic nexus standards and impose various sales factor market sourcing methods. Asset management companies should reexamine their income streams to confirm they are properly filing state income and gross receipts-based tax returns and remitting associated state taxes.  

  • Meeting a Nonprofit’s Fiduciary Obligation in Today’s Challenging Environment

    By:
    Anne Bucciarelli, CFA
    |
    May 1, 2017
    The environment today is challenging for nonprofits. Many organizations are feeling the twin pressures of ensuring consistent distributions while simultaneously maintaining and growing their endowment, often through fund-raising. 
  • 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.  
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