By Eric L. Green, Esq. Taxpayers often become frustrated and scared when dealing with the IRS on a back tax debt.In reality, however, resolving a tax debt is reasonably straightforward and can save taxpayers from unnecessary distress. A statutory lien is normally issued after tax returns are filed and payments must be arranged by the … Continue reading Resolving Tax Debts is Easy: It’s All About the Process
By Susan M. Tillery Many consumers, as well as professional advisers, continue to think of personal financial planning as a tool to gather assets under management (AUM) or to sell products; however, CPA personal financial planners have developed a fee-for service model which offers integrated personal financial planning without AUM or product sales. This model embodies … Continue reading The Virtual Family Office and Personal Financial Planning
By Guy Baker and Stanley Mountford The insurance industry is one of the most creative and adaptive group of marketers and agents ever assembled. But they must adhere to the tax laws and respect the intent of the law. A popular strategy has been circulated recently that flies in the face of legal precedence and … Continue reading IRC 264 – Is there a deduction loophole? Advisory Alert for Attorneys and Accountants
By Annette Nellen, CPA, Esq. So, is a C corporation preferred after the TCJA? The best answer: “it depends.” Many tax rules and non-tax considerations are important for choice-of-entity decisions. As shown in the following examples, the QBI deduction is a significant benefit to non-corporate businesses to complement the 21% flat rate for C corporations. … Continue reading Is A C Corporation Preferred After Tax Reform?
By Richard L. Harris, CLU ® AEP ® For those of you that don’t follow intergenerational split-dollar arrangements here’s a quick and dirty about how they normally work. Three generations involved Senior is wealthy and older, often in 80’s or 90’s Senior makes an advance or a loan to an ILIT for the benefit of grandchildren. In … Continue reading Cahill: Facts, Takeaways and Thoughts
By Terrence M. Franklin © 2018 University of Miami School of Law. This material was prepared for the 52nd Annual Heckerling Institute on Estate Planning sponsored by the University of Miami School of Law, and published by LexisNexis. It is reprinted with the permission of the Heckerling Institute and the University of Miami. Introductory Remarks ALAN F. ROTHSCHILD, … Continue reading The 1846 Last Will of John Sutton—What’s Not So New in Will Drafting and Contests
By Lawrence A. Frolik Many clients have heard of “Elder Law,” but not many are aware what it is or how an elder law attorney can help them. The short answer is that elder law attorneys help their clients with later life legal problems. Just as older clients have unique financial issues, so do older … Continue reading The Role of Elder Law Attorneys