Joshua Wiesenfeld, CP: What CPAs Must Do at the First Financial Planning Meeting (June 9, 2021)

Joshua Wiesenfeld, CP has made available for download his article, “What CPAs Must Do at the First Financial Planning Meeting”, published in the Journal of Accountancy. The abstract is as follows: More than most accounting professionals, CPA financial planners delve into the intimate details of their clients’ lives. In fact, for a financial planning engagement … Continue reading Joshua Wiesenfeld, CP: What CPAs Must Do at the First Financial Planning Meeting (June 9, 2021)

Richard Rubin and Rachel Louise Ensign (Wall Street Journal): Biden’s Capital-Gains Tax Proposal Puts Estate Planners to Work (June 8, 2021)

Richard Rubin and Rachel Louise Ensign have made available for download their article, "Biden’s Capital-Gains Tax Proposal Puts Estate Planners to Work," published in the Wall Street Journal. The article begins as follows: Estate planners for the wealthiest Americans are combing through the Biden administration’s proposed tax increases, hunting for ways to sidestep the potential … Continue reading Richard Rubin and Rachel Louise Ensign (Wall Street Journal): Biden’s Capital-Gains Tax Proposal Puts Estate Planners to Work (June 8, 2021)

Dee Gill: Is the $1 Trillion Coastal Housing Market a Future Financial Crisis? (March 31, 2021)

Dee Gill has published an article in UCLA Anderson Review, titled "Is the $1 Trillion Coastal Housing Market a Future Financial Crisis?" The article begins as follows: Homebuyers ignore warnings of rising seas; lenders keep lendingA financial crisis often seems to arrive out of nowhere — dot-com stocks plunging in 2000, the American mortgage meltdown … Continue reading Dee Gill: Is the $1 Trillion Coastal Housing Market a Future Financial Crisis? (March 31, 2021)

Laura Saunders (Wall Street Journal): The Huge Tax Break for Home Sellers: What to Know About the $500,000 Exemption (June 4, 2021)

Laura Saunders has made available for download her article, “The Huge Tax Break for Home Sellers: What to Know About the $500,000 Exemption”, published in the Wall Street Journal. The article begins as follows: The market is sizzling for home sellers, and President Biden wants to raise taxes on long-term capital gains for people with incomes above $1 … Continue reading Laura Saunders (Wall Street Journal): The Huge Tax Break for Home Sellers: What to Know About the $500,000 Exemption (June 4, 2021)

Bloomberg Wealth: Millennials Are Running Out of Time to Build Wealth (June 3, 2021)

Olivia Rockeman and Catarina Saraiva, of Bloomberg Wealth, has recently made available their article that discusses why millennials are doing worse financially compared to the older generations. Her article, “Millennials Are Running Out of Time to Build Wealth,” begins as follows: In almost every way measurable, millennials in the U.S. at 40 are doing worse … Continue reading Bloomberg Wealth: Millennials Are Running Out of Time to Build Wealth (June 3, 2021)

KPMG report: Biden Administration’s tax plan and implications for real estate industry (June 4, 2021)

KPMG is reporting that the U.S. Treasury Department on May 28, 2021, released the “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals”—the “Green Book.” The Green Book is proposing significant changes to the tax system that could force a re-thinking of decisions relevant to real estate. If the tax provisions described in the … Continue reading KPMG report: Biden Administration’s tax plan and implications for real estate industry (June 4, 2021)

Jeffrey Levine: Accelerating 2021 Business Sales To Navigate Biden’s Proposed Capital Gains Tax Increase (June 2, 2021)

Jeffrey Levine has written about Harvesting Capital Gains Vs Roth Conversions At 0% Tax Rates. The Executive Summary of his article is as follows: When investments appreciate in value, their capital gains are subject to preferential tax rates, which were first established to incentivize taxpayers to invest their available savings for growth. However, President Joe Biden’s recently … Continue reading Jeffrey Levine: Accelerating 2021 Business Sales To Navigate Biden’s Proposed Capital Gains Tax Increase (June 2, 2021)

Business Law Prof Blog: The Benefits and Burdens of Limited Liability (June 1, 2021)

Professor Joshua Fershee, on his Business Law Prof Blog, has made available for download his article, "The Benefits and Burdens of Limited Liability." The abstract is as follows: Law students in business associations and people starting businesses often think the only choice for forming a business entity is a limited liability entity like a corporation … Continue reading Business Law Prof Blog: The Benefits and Burdens of Limited Liability (June 1, 2021)

Forbes: IRS Crypto Tax Risks Expand With New Reporting (May 31, 2021)

Forbes has published an article, "IRS Crypto Tax Risks Expand With New Reporting," which discusses potential risks and penalties of unreported cryptocurrency gains with the new $10k reporting threshold. The article beings as follows: It is no secret that the IRS wants you to report your crypto gains. You can report crypto losses too, but … Continue reading Forbes: IRS Crypto Tax Risks Expand With New Reporting (May 31, 2021)

Carl A. Fornaris and Shira Peleg (Greenberg Traurig LLP): The Biden Administration Proposes New Cryptocurrency Reporting Rules (May 24, 2021)

Carl A. Fornaris and Shira Peleg, of Greenberg Traurig LLP, have made available for download their article, “The Biden Administration Proposes New Cryptocurrency Reporting Rules,” published in a Greenberg Traurig Alert. The article begins as follows: On May 20, 2021, the Treasury Department released a report that proposes new reporting requirements for transactions, including cryptocurrency transactions. Under the proposed plan, financial institutions, payment … Continue reading Carl A. Fornaris and Shira Peleg (Greenberg Traurig LLP): The Biden Administration Proposes New Cryptocurrency Reporting Rules (May 24, 2021)

Bloomberg Tax: Seven Financial Planning Hacks Only the Pros Know (May 19, 2021)

Bloomberg Tax outlines seven hacks that certified public accountants can utilize to help clients when they need advice for financial matters beyond taxes. The article begins as follows: The world of finance is like an endless maze to the lay person. Such individuals look toward a financial advisor for assistance in financial matters, especially with … Continue reading Bloomberg Tax: Seven Financial Planning Hacks Only the Pros Know (May 19, 2021)

Forbes: Monetized Installment Sale – IRS Finally Says It Does Not Work (May 22, 2021)

Forbes has published an article, "Monetized Installment Sale - IRS Finally Says It Does Not Work," which discusses IRS analysis regarding Monetized Installment Sales that outlines six ways in which the transaction does not work as many promoters claim. The article begins as follows: The promoters of Monetized Installment Sales got some bad news from … Continue reading Forbes: Monetized Installment Sale – IRS Finally Says It Does Not Work (May 22, 2021)

Albert Feuer: IRS Guidance About the SECURE Act’s Beneficiary Provisions Requires Revision (May 7, 2021)

Albert Feuer, of the Law Offices of Albert Feuer, has made available for download his article, "IRS Guidance About the SECURE Act's Beneficiary Provisions Requires Revision", published in 49 Comp. Plan. J. No. 5, 78 , 2021. The abstract is as follows: The IRS has presented its first and only guidance about how the SECURE … Continue reading Albert Feuer: IRS Guidance About the SECURE Act’s Beneficiary Provisions Requires Revision (May 7, 2021)

Daniel S. Goldberg: Partnership Revaluations: Book-Ups Are Your Friends (Usually)’—Planning with Revaluations and Their Interplay with Section 704(c) (April 27, 2021)

Daniel S. Goldberg, of University of Maryland Francis King Carey School of Law, has made available his article, "Partnership Revaluations: Book-Ups Are Your Friends (Usually)'—Planning with Revaluations and Their Interplay with Section 704(c)", to be published in 74 Tax Lawyer (Forthcoming). The abstract is as follows: The procedure provided in the section 704(b) regulations known … Continue reading Daniel S. Goldberg: Partnership Revaluations: Book-Ups Are Your Friends (Usually)’—Planning with Revaluations and Their Interplay with Section 704(c) (April 27, 2021)

Ways & Means Approves SECURE 2.0 Bill

The House Ways & Means Committee approved, on a bipartisan basis,  H.R. 2954, the “Securing a Strong Retirement Act of 2021,” sometimes referred to as SECURE 2.0 SECURE 2.0 seeks to expand retirement plan coverage and increase retirement savings, through a variety of provisions. expanding automatic enrollment, increasing the age mandatory distributions are required to … Continue reading Ways & Means Approves SECURE 2.0 Bill

Holland & Knight Webinars: International Private Client Webinar Series: You Can Run But You Can’t Hide from the IRS (May 13, 2021)

Holland & Knight will host a webinar as a part of their International Private Client Webinar Series, titled "You Can Run But You Can't Hide from the IRS," which will be held on May 13, 2021. The presenters include Kevin Packman, Andrea Darling de Cortés, and William Shepherd. Online registration will be open until May … Continue reading Holland & Knight Webinars: International Private Client Webinar Series: You Can Run But You Can’t Hide from the IRS (May 13, 2021)

Joint Committee On Taxation Issues Reports on Securing A Strong Retirement Act Of 2021 (May 4, 2021)

The Joint Committee on Taxation has released its publication, Description Of The Chairman's Amendment In The Nature Of A Substitute To H.R.__, The "Securing A Strong Retirement Act Of 2021", on May 4, 2021. To download report, JCX-23-21, click: Description Of The Chairman's Amendment In The Nature Of A Substitute To H.R.__, The "Securing A Strong … Continue reading Joint Committee On Taxation Issues Reports on Securing A Strong Retirement Act Of 2021 (May 4, 2021)

Timothy Barrett (Argent Trust Company): Legal Advice for Parents with Kids in That ‘Awkward Stage’ of Semi-Adulthood

Timothy Barrett, of Argent Trust Company, has made available for download his article, “Legal Advice for Parents with Kids in That ‘Awkward Stage’ of Semi-Adulthood,” published in The Kiplinger Washington Editors. The abstract is as follows: For guidance on preparing a financial power of attorney and patient advocate designation for your semi-adult child, you should … Continue reading Timothy Barrett (Argent Trust Company): Legal Advice for Parents with Kids in That ‘Awkward Stage’ of Semi-Adulthood

Bloomberg: Rich Americans Fleeing Tax Hikes May Turbocharge Shift to ETFs (May 2, 2021)

Bloomberg News reports that affluent individuals are looking at ETFs as one way to mitigate the possibility of higher capital gains taxes. The article begins as follows: The booming ETF industry may be set to lure even more cash in the coming years as rich Americans facing higher capital gains taxes look to limit what … Continue reading Bloomberg: Rich Americans Fleeing Tax Hikes May Turbocharge Shift to ETFs (May 2, 2021)

Bloomberg News: What Financial Advisers Are Telling Rich Clients About Biden’s Tax Hike (April 30, 2021)

Bloomberg News writes about what financial advisers are advising their high net worth clients in light of the Biden tax proposals. The article begins as follows: President Joe Biden’s proposal to roughly double the capital-gains tax for the rich has put financial advisers in the unusual position of acting as part therapist and part fortune teller. Frantic calls are … Continue reading Bloomberg News: What Financial Advisers Are Telling Rich Clients About Biden’s Tax Hike (April 30, 2021)