Bridgewater Global Observations: Beyond the Election: What Doesn’t Change Will Be a Lot More Than What Does (Nov. 3, 2020)

Bridgewater has made available to the public it's Global Observation (Nov. 3, 2020): Beyond the Election: What Doesn’t Change Will Be a Lot More Than What Does. The summary from CEO, David McCormick is as follows: While the US election is very important across many dimensions, it’s also worth keeping in mind that the dominant … Continue reading Bridgewater Global Observations: Beyond the Election: What Doesn’t Change Will Be a Lot More Than What Does (Nov. 3, 2020)

Rubin on Tax: A Co-Maker of a Promissory Note Is Not Always Liable to the Co-Signer [Florida] (October 31, 2020)

Charles (Chuck) Rubin, in his Rubin on Tax blog, discusses accommodation party status in Erick A. Palma, MD., et al. v. South Florida Pulmonary & Critical Care, LLC, 45 Fla. L. Weekly D2175a. The article begins as follows: In an interesting case, two doctors co-signed a promissory note with others of an LLC where they were members, and … Continue reading Rubin on Tax: A Co-Maker of a Promissory Note Is Not Always Liable to the Co-Signer [Florida] (October 31, 2020)

AICPA Tax Insider (October 29, 2020): Offer-in-compromise Scams Expected to Increase; 2021 Inflation Adjustments and Tax Tables Issued; Inflation-adjusted Income Ranges for 2021 IRA and 401(k) Plans; and More!

Offer-in-compromise scams expected to increaseBy Dave Strausfeld, J.D.What can be done about predatory firms that make exaggerated promises of being able to settle tax debt? A recession provides fertile ground for their scams. 2021 inflation adjustments and tax tables issuedThe IRS issued the 2021 inflation adjustment amounts and tax tables for use in preparing 2021 … Continue reading AICPA Tax Insider (October 29, 2020): Offer-in-compromise Scams Expected to Increase; 2021 Inflation Adjustments and Tax Tables Issued; Inflation-adjusted Income Ranges for 2021 IRA and 401(k) Plans; and More!

Timothy Fitzgerald, Kevin Hassett, Cody Kallan, and Casey B. Mulligan: An Analysis of Vice President Biden’s Economic Agenda: The Long Run Impacts of its Regulation, Taxes, and Spending (October 21, 2020)

Timothy Fitzgerald, Kevin Hassett, Cody Kallan, and Casey B. Mulligan, of Texas Tech University; Independent, University of Wisconsin - Madison, and University of Chicago; National Bureau of Economic Research (NBER), have made available for download their article, "An Analysis of Vice President Biden's Economic Agenda: The Long Run Impacts of its Regulation, Taxes, and Spending," … Continue reading Timothy Fitzgerald, Kevin Hassett, Cody Kallan, and Casey B. Mulligan: An Analysis of Vice President Biden’s Economic Agenda: The Long Run Impacts of its Regulation, Taxes, and Spending (October 21, 2020)

Karen Czapanskiy: Tax Policy, Structured Settlements and Factoring: Making Exploitation Easy and Profitable (October 23, 2020)

Karen Czapanskiy, of University of Maryland - Francis King Carey School of Law, has made available for download her article, "Tax Policy, Structured Settlements and Factoring: Making Exploitation Easy and Profitable," published in 93 University of Detroit Mercy Law Review 455 (2020) and U of Maryland Legal Studies Research Paper No. 2020-19. The abstract is … Continue reading Karen Czapanskiy: Tax Policy, Structured Settlements and Factoring: Making Exploitation Easy and Profitable (October 23, 2020)

Chuck Cavanaugh (Citi Personal Wealth Management): Federal Estate Tax Exemption Is Set to Expire – Are You Prepared?

Chuck Cavanaugh, of Citi Personal Wealth Management, has made availablefor download his article, "Federal Estate Tax Exemption Is Set to Expire – Are You Prepared?" published in The Kiplinger Washington Editors. The abstract is as follows: A window of opportunity opened in 2018 when the Tax Cuts and Jobs Act (TCJA) doubled the lifetime gift, … Continue reading Chuck Cavanaugh (Citi Personal Wealth Management): Federal Estate Tax Exemption Is Set to Expire – Are You Prepared?

David Fowler Johnson (Winstead PC): Administering Trusts in Recessions: Trust Loans to Beneficiaries (October 30, 2020)

David Fowler Johnson, of Winstead PC, has made available for download his article, "Administering Trusts in Recessions: Trust Loans to Beneficiaries," published in JDSUPRA. The abstract is as follows: Beneficiaries often request that a trustee make them a loan from trust property. In an economic downturn, such requests are even more prevalent. As a general … Continue reading David Fowler Johnson (Winstead PC): Administering Trusts in Recessions: Trust Loans to Beneficiaries (October 30, 2020)

Forbes: The Serious Disconnect Between A Hot Residential Real Estate Market And The Coming Tsunami Of Foreclosures

Forbes has published an article, "The Serious Disconnect Between A Hot Residential Real Estate Market And The Coming Tsunami Of Foreclosures," which discusses the increase of foreclosures due to COVID-19. The article begins as follows: Various reports show that the market for previously-owned homes climbed nearly 10% in September, the fourth straight monthly increase. It is … Continue reading Forbes: The Serious Disconnect Between A Hot Residential Real Estate Market And The Coming Tsunami Of Foreclosures

Forbes: Rocker Gene Simmons Kisses Off California Taxes, Should You Too? (November 1, 2020)

Forbes has published an article, "Rocker Gene Simmons Kisses Off California Taxes, Should You Too?" which discusses California's high tax rates and how to prevent audit risk after leaving residency in-state. The article begins as follows: California’s 13.3% tax rate is enough to make almost anyone sick, including rock stars. Kiss rocker Gene Simmons announced he wanted to leave … Continue reading Forbes: Rocker Gene Simmons Kisses Off California Taxes, Should You Too? (November 1, 2020)

Deloitte: Tax policy implications of a Joe Biden presidency (Nov. 8, 2020)

Joe Biden appears to be headed to the White House and will assume responsibility for the nation’s fiscal policy beginning in January of 2021. His tax agenda calls for, among other things, increasing rates on large corporations and upper-income individuals and limiting or eliminating some of the incentives currently available to these taxpayers. "A change … Continue reading Deloitte: Tax policy implications of a Joe Biden presidency (Nov. 8, 2020)

Post Election Webinars/Newsletters Etc. (2020)

Here is a list of implications of the election. This will be updated periodically. Venable Post-Election Series: Election Night Discussion (Nov. 4, 2020)Bernstein Post-Election Webcast: What Will the Election Results - or Lack Thereof - Mean for your Wealth, Portfolio, and Estate?Holland & Knight, Planning during uncertain times: how the US elections may impact HNW taxpayersNorthern … Continue reading Post Election Webinars/Newsletters Etc. (2020)

Venable Post-Election Series: Election Night Discussion (Nov. 4, 2020)

Venable is hosting a webinar about the impact of the election. Its description is as follows:  Although no final result has been declared in the 2020 presidential election and Venable’s Virtual Post-Election Series has been postponed until a decision, we are pleased to have you join us in a virtual discussion at 3:00 p.m. ET today … Continue reading Venable Post-Election Series: Election Night Discussion (Nov. 4, 2020)

HBR Hotlist (Nov. 2, 2020): How to Thrive When Everything Feels Terrible; Our Work from Anywhere Future; What It Takes to Lead Through Exponential Change, and More!

How to Thrive When Everything Feels Terrible By Christine Porath, Mike Porath Five strategies to combat toxic negativity. PERSONNEL POLICIES Our Work-from-Anywhere Future by Prithwiraj (Raj) Choudhury Best practices for all-remote organizations ORGANIZATIONAL CULTURE Write Down Your Team’s Unwritten Rules by Liz Fosslien, Mollie West Duffy Creating an “It’s okay to…” list will help your employees feel less anxious. LEADERSHIP … Continue reading HBR Hotlist (Nov. 2, 2020): How to Thrive When Everything Feels Terrible; Our Work from Anywhere Future; What It Takes to Lead Through Exponential Change, and More!

Probate Stars: Can You Vote With A Power of Attorney?

The Probate Stars blog reports that "you generally cannot use a power of attorney to vote on behalf of someone else in an election.  Although election laws and the laws regarding the ability of a power of attorney to vote on behalf of the principal are controlled by each state, the answer across a sampling … Continue reading Probate Stars: Can You Vote With A Power of Attorney?

Sally P. Schreiber, J.D.: 2021 Inflation Adjustments and Tax Tables Issued (October 26, 2020)

Sally P. Schreiber’s column in the Journal of Accountancy focuses on new inflation adjustments for tax provisions. Her article, "2021 Inflation Adjustments and Tax Tables Issued," begins as follows: The IRS on Monday issued the 2021 annual inflation adjustments for many tax provisions, as well as the 2021 tax rate tables for individuals and estates … Continue reading Sally P. Schreiber, J.D.: 2021 Inflation Adjustments and Tax Tables Issued (October 26, 2020)

Sally P. Schreiber, J.D.: Inflation-adjusted income ranges for 2021 IRA and 401(k) plans (October 26, 2020)

Sally P. Schreiber’s column in the Journal of Accountancy focuses on the new change in income ranges for deductible contributions to IRAs. Her article, "Inflation-adjusted income ranges for 2021 IRA and 401(k) plans," begins as follows: The IRS on Monday announced that the income ranges to determine whether taxpayers are eligible to make deductible contributions … Continue reading Sally P. Schreiber, J.D.: Inflation-adjusted income ranges for 2021 IRA and 401(k) plans (October 26, 2020)

Leimberg Weekly Digest: October 17-24, 2020

LISI WEEKLY DIGEST [Subscription Required]  Steve Leimberg's Estate Planning NewsletterOctober 20 -Alan Gassman & Wesley Dickson - When to Unplug Great Grandpa and Other Tax Strategies to ConsiderOctober 19 -Ed Morrow: How Donees Can Hit the Undo Button on Taxable GiftsSteve Leimberg's Employee Benefits and Retirement Planning NewsletterOctober 22 -Natalie Choate: PLRs 202031007 & 202039002 Illustrate … Continue reading Leimberg Weekly Digest: October 17-24, 2020

Procedurally Taxing: Revoking the Release of Federal Tax Lien (October 14, 2020)

Keith Fogg, in his Procedurally Taxing Blog article, discusses Webb v. IRS, No. 1:17-cv-00058 (S.D. Ind. 2020). Taxpayers get a sad lesson in the ability of the federal tax lien both to survive bankruptcy and to come back to life after release.  This is not a story of foreclosure, though that chapter may still be written, but rather … Continue reading Procedurally Taxing: Revoking the Release of Federal Tax Lien (October 14, 2020)

Forbes: IRS Announces Higher Estate And Gift Tax Limits For 2021 (October 26, 2020)

Forbes has published an article, "IRS Announces Higher Estate And Gift Tax Limits For 2021," which discusses the new estate and gift tax limits for 2021. The article begins as follows: The Internal Revenue Service announced today the official estate and gift tax limits for 2021: The estate and gift tax exemption is $11.7 million per individual, … Continue reading Forbes: IRS Announces Higher Estate And Gift Tax Limits For 2021 (October 26, 2020)

John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware (Winstead PC): Potential Estate Planning Implications of 2020 Election Results (October 19, 2020)

John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware, of Winstead PC, have made availablefor download their article, "Potential Estate Planning Implications of 2020 Election Results," published on Winstead's website. The article begins as follows: With the election less than a month away, there has been significant discussion regarding potential tax law … Continue reading John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware (Winstead PC): Potential Estate Planning Implications of 2020 Election Results (October 19, 2020)