Estate Planning, Tax Planning, Client Communications, Client Relationships,
The 2020 tax season is underway, but millions of Americans have yet to start preparing their tax returns. In 2018, it was estimated that over 14 million people waited until...
Tax Planning, LLC Operating Agreement, Partnership Formation,
by Steven R. Schneider and Brian J. O'Connor No tax advisor wants to have to tell his or her clients that they owe a tax without receiving a corresponding amount...
Revocable Living Trust, Community Property Trust, Tax Planning,
by Patrick H. Murphy, JD, LLM (Taxation) The current state of the law has made the capital gains tax the new “estate tax” that should be on everyone’s radar. It...
Decanting Trusts, Trust Modification, Irrevocable Trust, IRT, Estate Planning, Tax Planning,
By Whitney L. Sorrell, JD, CPA, MBA | Contributing Guest Writer, Sorrell Law Firm, PLCDecanting is an increasingly popular way to add flexibility to irrevocable trusts (IRT). It's also a...
Taxation, Tax Planning, Success Strategies, Trusts, Client Communication ,
By: Randy Gardner, J.D., LL.M., CPA, CFP®, Matthew T. McClintock, J.D., Leslie Daff, J.D., MBA®, Julie Welch, MSA, CPA, CFP®Selecting the right trustee is essential for a successful plan. Our...
The Tax Cuts and Jobs Act, Tax Reform, C Corporation, S Corporation, Pass-Through Entities, Business Planning, Tax Planning, Corporate Taxation, International Taxation,
by Jeramie J. Fortenberry, JD, LLM and Andreea Olteanu, JD On November 16, 2017, the House of Representatives passed their version of a tax reform bill: The Tax Cuts...
Bypass Trusts, Tax Planning, Estate Planning, Death Tax, Estate Tax,
by WealthCounsel StaffLooking at the tax priorities of President-elect Donald Trump and Republican leadership in Congress, there’s a good chance the federal estate tax will be repealed soon. While that...
Bypass Trusts, Tax Planning, Capital Gains Tax, Basis, Tax Reform, President Donald Trump,
by WealthCounsel Education StaffMany scholars believe there’s a good chance the federal estate tax will be repealed soon based on the tax priorities of President-elect Donald Trump and Republican leadership...
President Donald Trump, Tax Reform, Trust Protector, Delaware Tax Trap, Tax Planning, Estate Planning, Revocable Living Trust, RLT,
by WealthCounsel StaffAs mentioned in previous posts, there’s a good chance the federal estate tax will be repealed as part of a comprehensive tax overhaul based on the tax priorities...
Business Planning, Business Entity Formation, Tax Planning, LLC Operating Agreement,
by Brian J. O'Conner, JD, LLM (Taxation) and Steven R. Schneider, JD, LLM (Taxation)Almost every tax practitioner who has prepared or explained an LLC agreement has at one time or...
IRC §2704, Tax Planning, Estate Tax, Estate Planning,
Charitable Gifts, Tax Planning,
by Jeramie Fortenberry, JD, LLM (Taxation) Executive Editor, Business Docx , WealthCounselAs 2015 draws to a close, your clients might now be considering year-end charitable contributions. For various reasons, some...
Business Planning, Formation and Startup, Tax Planning, LLCs, LLC Operating Agreement,
by Jennifer Villier, JD | Business Law Faculty, WealthCounselIt’s no surprise that LLCs remain an attractive option for business owners. In addition to providing them limited liability, they allow the...
Estate of Powell, Valuation Discounts, Deathbed Tax Planning, Tax Planning, Best, Estate Tax Repeal, Family Limited Partnership (FLP),
by Joseph Percopo, JD, LLM | Mateer & Harbert The recent Tax Court decision of Estate of Powell represents the latest successful attack on valuation discount planning. By extending application...
Estate Planning, Asset Protection, Tax Planning, Retirement Planning,
While doctors, dentists, and other healthcare professionals share many of the same estate planning needs as any of your other clients, they also face some very unique issues. For example...
Estate Planning and Probate, Tax Planning, Donald Trump, President Donald Trump, IRC §2704,
Special Needs Trusts, Estate Planning, Tax Planning,
by Gregory Herman-Giddens, J.D., LL.M., TEP, CFP®Learn about important income tax issues you should take into account when drafting trusts. With trust income taxed at rates as high as 43.4%...
Estate Planning, Tax Planning,
by Gregory Herman-Giddens, JD, LLM, CFP®Learn more about of the considerations that an Executor/Trustee faces in preparing fiduciary income tax returns by downloading the following document, "Fiduciary Income Taxation." Then...
Family Limited Partnership (FLP), Family Limited Liability Company (FLLC), Tax Planning,
One of the most effective wealth transfer strategies of the past few decades may be going away this September. For many years, wealthy families have money into Family Limited Partnerships...
Exemption Portability, Deceased Spouse's Unused Election (DSUE), Estate Planning and Probate, Tax Planning, ATRA,
by Jeremiah H. Barlow, JD | Trusts and Estates Law Faculty, WealthCounselAs estate planners, we are all very familiar with the concept of portability. However, since 2010 when it was...
Tax Planning, Succession Planning, Small Business,
By James G. Blase, CPA, JD, LLM | Blase & Associates LLCHistorically minority interest discounts were the most popular tax strategy in succession planning. In a climate of high federal...
2704, IRC §2704, Tax Planning, Small Business, Valuation Discounts, Internal Revenue Code §2704,
by Jeramie J. Fortenberry, JD, LLM (Taxation) | Executive Editor and Legal Education FacultyOn December 1, 2016, representatives of the Treasury and the Internal Revenue Service (IRS) held a hearing...
Tax Planning, Estate Planning,
by Gregory Herman-Giddens, JD, LLM, TEP, CFP®, Samantha Reichle, JD and Katie H. Muhlenkamp, JDEstate planning practitioners will find that a good working knowledge of fiduciary income taxation is vital...
Tax Planning, International Tax Planning, CLE, Heckerling,
by Matthew T. McClintock, JD | VP, Education - WealthCounselOne of the most thought-provoking topics that I heard about at Heckerling 2016 was the emergence of international taxation as a...
International Tax Planning, Tax Planning, Estate Planning and Probate,
by Matthew T. McClintock, JD | VP, Education - WealthCounselOne of the most thought-provoking topics of 2016 is the emergence of international taxation as a practice area for trusts and...
Swart Enterprises v Franchise Tax Board, Business Planning, Tax Planning,
by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselAccording to Kenny Rogers, “you can’t outrun the long arm of the law. No, you can’t outrun the long arm of...
TCJA, Tax Cuts and Jobs Act, Tax Reform, Tax Planning,
by Andreea Olteanu, JDWith 2017 coming to an end and sweeping tax reform legislation, The Tax Cuts and Jobs Act, (Act) having been signed into law, some last minute...
PATH Act of 2015, Protecting Americans From Tax Hikes Act of 2015, Tax Planning, Charitable Gifts, Charitable Planning,
by Jeramie Fortenberry, JD, LLM (Taxation) | Executive Editor, WealthCounselThe Protecting Americans From Tax Hikes Act of 2015 (PATH) provides long-awaited certainty for taxpayers that make charitable contributions from IRAs...
ATRA, American Tax Payer Relief Act of 2012 (ATRA), Estate Planning and Probate, Tax Planning, Capital Gains Tax,
by Matthew T. McClintock, JD | Vice President of Education, WealthCounselIn Part I of this series, we looked at fiduciary income tax. The other “new death tax” we must consider...
Estate Planning and Probate, Tax Planning, Wealth Docx, Capital Gains Tax, Fiduciary Income Tax,
by Matthew T. McClintock, JD | Vice President of Education, WealthCounselParts 1 and 2 of this series examined two new death taxes—fiduciary income and capital gains. Now in the final...
Tax Reform, Tax Planning, Business Planning, Choice of Entity,
Donald J. Trump, POTUS 45, Estate Planning, Tax Planning, Estate Tax Repeal, Business Planning, Healthcare, Affordable Care Act (ACA),
by Matthew T. McClintock, JD, TEP | Contributing Guest WriterIt seems that the only certainty in 2017 is uncertainty. Legal and financial planners alike are faced with clients who are...
Tax Reform, Tax Planning, Practice Development, Estate Planning, Legal Marketing, Client Maintenance,
by Patrick Carlson, JD, LLMWhy do so many of us seem worried by the political and legal uncertainty surrounding taxation, healthcare, and other issues affecting our clients and our practices...
IRC §2704, Legal Marketing, Tax Planning, Estate Planning,
IRC §2704, Tax Planning, Estate Planning,
The Tax Cuts and Jobs Act, TCJA, President Donald Trump, Tax Reform, Tax Planning, Estate Planning, Business Planning,
By Jeramie J. Fortenberry, JD, LLM | Director of Education, WealthCounselAlert: Congress Passes Sweeping Tax Reform BillThe most significant tax reform package of this generation is now awaiting the President’s...
Business Docx, Business Entity Formation, LLC Operating Agreement, Tax Planning, Partnership Formation,
by Jeramie Fortenberry, JD, LL.M. (Taxation) | Executive Editor, WealthCounselThe Bipartisan Budget Act of 2015 (P.L. 114-74), signed into law on November 2, 2015, effectively repealed the Tax Equity and...
Basis, Tax Planning, ATRA, American Tax Payer Relief Act of 2012 (ATRA), Clayton Election, NING Trust, DING Trust,
by Jeremiah H. Barlow, JD | Trusts & Estates Law Faculty, WealthCounselBefore the American Taxpayer Relief Act’s (ATRA) enactment in 2013, estate planning attorneys focused primarily on how to avoid...
Thought Leader Series, Estate Planning, Tax Planning, Wealth Docx,
Practice Developent, Estate Planning, Taxation, Tax Planning, Estate Tax,
Thought Leader Series, LLC Operating Agreement, Partnership Formation, Business Entity Formation, Tax Planning,
President Donald Trump, Tax Planning, Tax Reform, Business Planning, Small Business,
by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselOn the heels of his inauguration, President Trump quickly got to work exercising his executive authority to implement some of his...
IRC §2704, 2704, Tax Planning, Estate Tax,
Estate Planning, Tax Planning, 2704, IRC §2704,