BDO: 2020 Year-End Tax Planning For Individuals (October 2020)

BDO has published an article, "2020 Year-End Tax Planning For Individuals," which discusses tax planning for 2020.  The article begins as follows: As the year-end approaches, individuals, business owners and family offices should be reviewing their situations to identify any opportunities for reducing, deferring or accelerating tax obligations. Areas that should be looked at in … Continue reading BDO: 2020 Year-End Tax Planning For Individuals (October 2020)

Sharon L. Klein (Family Matter)- New York’s Latest Legislative Session: What Passed, What Didn’t, What’s Next (September 14, 2020)

Sharon L. Klein, President of Family Matter, has made available for download her article, New York’s Latest Legislative Session: What Passed, What Didn’t, What’s Next, published in the New York Law Journal Special Trusts & Estates section. The abstract is as follows: Learn about what passed and what didn’t in New York’s 2019- 2020 legislative session … Continue reading Sharon L. Klein (Family Matter)- New York’s Latest Legislative Session: What Passed, What Didn’t, What’s Next (September 14, 2020)

TaxProf Blog – Bryan Camp: Lesson From The Tax Court: Receipts Are Not Enough (September 21, 2020)

Bryan Camp has published an article on the TaxProf Blog, titled Lesson From The Tax Court: Receipts Are Not Enough. The article begins as follows: In Anna M. Armstrong v. Commissioner, T.C. Sum. Op. 2020-26 (Sept. 17, 2020), Judge Panuthos teaches that substantiation does not just mean showing the amount of an expense; it means showing entitlement to deduct that expense.  … Continue reading TaxProf Blog – Bryan Camp: Lesson From The Tax Court: Receipts Are Not Enough (September 21, 2020)

Forbes: IRS Taxes Most Lawsuit Settlements And Exact Wording Matters (September 28, 2020)

Forbes has published an article, "IRS Taxes Most Lawsuit Settlements And Exact Wording Matters," which discusses how changes to tax laws have affected tax treatments of legal fees. The article begins as follows: If you collect a legal settlement is it taxable? Usually yes, but the tax treatment varies depending on how you were damaged, how … Continue reading Forbes: IRS Taxes Most Lawsuit Settlements And Exact Wording Matters (September 28, 2020)

Nicole Black (LexBlog): Florida Bar on the Ethics of Working Remotely During the Pandemic (September 29, 2020)

Nicole Black, in LexBlog, discusses the Florida Bar Standing Committee's Advisory Opinion 2019-4. The issue that the Committee considered in Advisory Opinion 2019-4 was whether it is ethically permissible for lawyers to practice law remotely from their homes in Florida in situations where the lawyers are unlicensed in Florida and employed by firms located in other states, but have … Continue reading Nicole Black (LexBlog): Florida Bar on the Ethics of Working Remotely During the Pandemic (September 29, 2020)

Forbes: Why Is The Effective Tax Rate Of High-Income Taxpayers So Low? (September 29, 2020)

Forbes has published an article, "Why Is The Effective Tax Rate Of High-Income Taxpayers So Low," which discusses how tax benefits have provided favorable treatment to high-income taxpayers. The article begins as follows: Our first glimpse of individual income tax returns affected by the Tax Cuts and Jobs Act indicates that the 2017 tax law seems to have … Continue reading Forbes: Why Is The Effective Tax Rate Of High-Income Taxpayers So Low? (September 29, 2020)

Lauren Galbraith (Farella Braun + Martel LLP): Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions (September 29, 2020)

Lauren Galbraith, of Farella Braun + Martel LLP, has made available for download her article, Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions, published in JD Supra. The abstract is as follows: Due to annual inflation-indexing, the historically high lifetime exemption amount for gift, estate, and generation-skipping transfer … Continue reading Lauren Galbraith (Farella Braun + Martel LLP): Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions (September 29, 2020)

Bloomberg News: Millionaires Would Pay Up Under Biden Tax Plans, Study Shows (Sept. 14, 2020)

According to Bloomberg News, millionaires could see much bigger tax bills if Democrat Joe Biden is elected president in November, but levies on most households below the top income brackets would stay about the same as under President Donald Trump, an outside analysis shows. Biden’s tax proposals would have the top 0.1% of earners -- those currently … Continue reading Bloomberg News: Millionaires Would Pay Up Under Biden Tax Plans, Study Shows (Sept. 14, 2020)

McGuire Woods: Recent Cases of Interest to Fiduciaries (Sept. 2, 2020).

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: In the Matter of the William J. Raggio Family Trust, 460 P.3d 969 (Nev. April 9, 2020). Nevada Supreme Court found that the settlor’s surviving spouse, as trustee, … Continue reading McGuire Woods: Recent Cases of Interest to Fiduciaries (Sept. 2, 2020).

IRS IR-2020-187 (Aug. 25, 2020): Reminder to Taxpayers- deadline to return distributions to retirement accounts is Aug. 31

The Internal Revenue Service today reminds IRA owners, beneficiaries or workplace retirement plan participants who received a Required Minimum Distribution (RMD) this year that they have until August 31 to rollover or repay the distribution to avoid paying taxes. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives RMDs during 2020 for … Continue reading IRS IR-2020-187 (Aug. 25, 2020): Reminder to Taxpayers- deadline to return distributions to retirement accounts is Aug. 31

Paul Sullivan, Wealth Matters, NY Times (August 14, 2020): Helping Girls Step Up to Entrepreneurship

Paul Sullivan's weekly New York Times Wealth Matters column focuses on teaching girls financial literacy. His article, Helping Girls Step Up to Entrepreneurship, begins as follows: Neha Shukla started a Girls With Impact program in April and by June had a prototype for her invention — a hat that aids in social distancing.Marcus Smith for … Continue reading Paul Sullivan, Wealth Matters, NY Times (August 14, 2020): Helping Girls Step Up to Entrepreneurship

HK: Private Wealth & Politics 2020 for High Net Worth Individuals

Holland & Knight's Private Wealth Services Group and Public Policy & Regulation Groupare presenting a three-part series of virtual discussions on private wealth and politics. Our attorneys from a wide array of professional experiences will discuss information via a trio of webinars tailored for ultra-high-net-worth (UHNW) clients, family office administrators and their advisors. Topics include "What Do Changes … Continue reading HK: Private Wealth & Politics 2020 for High Net Worth Individuals

Leimberg Weekly Digest: August 1-8, 2020

LISI WEEKLY DIGEST [Subscription Required]  Steve Leimberg's Estate Planning Newsletter·  August 7 -Steve Leimberg - Review of Planning for Ownership and Inheritance of Pension and IRA Accounts and Benefits in Trust or Otherwise After the Secure Act: The Estate Planner's IRA/Pension Planning Guide·  August 6 -Michael Geeraerts & Jim Magner on the Bolles and Kroner Cases - Is … Continue reading Leimberg Weekly Digest: August 1-8, 2020

Bloomberg Tax: Trump’s and Biden’s tax plans – side by side (Aug. 11, 2020)

Bloomberg Tax has released a free report comparing Trump and Biden's tax plans, side by side. The summary is below: The question of who will become president poses a lot of “what ifs” for tax professionals and their clients. This complimentary report, Trump, Biden Tax Plan Comparison, will help you take the guesswork out of your … Continue reading Bloomberg Tax: Trump’s and Biden’s tax plans – side by side (Aug. 11, 2020)

IRS Tax Practice Unit: Receipt of Dividends or Interest from a Related CFC (July 29, 2020)

The IRS Large Business and International (LB&I) has issued a new Practice Unit, Receipt of Dividends or Interest from a Related CFC. Practice Units provide IRS staff with explanations of general tax concepts, as well as information on specific types of transactions. Practice Units are not official pronouncements of law or directives and cannot be … Continue reading IRS Tax Practice Unit: Receipt of Dividends or Interest from a Related CFC (July 29, 2020)

Bridgewater YouTube Video: Grappling with the New Reality of Zero Bond Yields Virtually Everywhere (July 23, 2020)

Bridgewater has released a video by Bridgewater Senior Portfolio Strategist, Jim Haskell, on managing money in a zero interest rate environment. The summary and video are below: We believe the most important topic facing all investors today is how to manage money in a zero interest rate environment. Recently, Bridgewater’s research team published a three-part … Continue reading Bridgewater YouTube Video: Grappling with the New Reality of Zero Bond Yields Virtually Everywhere (July 23, 2020)

Emily Taylor Poppe, Surprised by the Inevitable: A National Survey of Estate Planning Utilization (July 1, 2020)

Emily Taylor Poppe, of University of California, Irvine School of Law, has made available for download her article, Surprised by the Inevitable: A National Survey of Estate Planning Utilization, published in the UC Davis Law Review, Vol. 53, No. 5, 2020. The Abstract is as follows: The laws governing the transfer of property at death … Continue reading Emily Taylor Poppe, Surprised by the Inevitable: A National Survey of Estate Planning Utilization (July 1, 2020)

Foley Lardner: Introduction to Family Offices (July 23, 2020)

Foley Lardner has published a succinct primer on Family Offices. It begins as follows: What is a Family Office? A “Family Office” is a wealth management entity created to provide investment and wealth management services tailored to the specific needs of a high net worth (HNW) individual or familyA Family Office can take on many … Continue reading Foley Lardner: Introduction to Family Offices (July 23, 2020)

Paul Sullivan, Wealth Matters, NY Times (July 24, 2020): Need Help With Your Estate Plan? Go With the Flow, Advisers Say

Paul Sullivan's weekly New York Times Wealth Matters column focuses on the use of flowcharts and other visual aids in the context of estate planning. It begins as follows: As older adults face mortality during the pandemic, lawyers and wealth advisers are using color-coded documents and flowcharts to help them understand estate planning. To see … Continue reading Paul Sullivan, Wealth Matters, NY Times (July 24, 2020): Need Help With Your Estate Plan? Go With the Flow, Advisers Say