Split-Dollar Rules: IRS Finally Gets It Right
April 1, 2002New split-dollar life insurance arrangements probably will be rarer than South Florida snow storms, and existing split-dollar plans may need to be modified or terminated, now that the Internal Revenue Service finally has announced a workable plan to tax the economic substance of these deals. Notice 2002-8, which the IRS issued in January, removed most of the uncertainty that the Service created last year when it offered guidance that provided …
Learning The Lessons From Enron
April 1, 2002The collapse of the Enron Corporation is the exclamation point at the end of the late-1990s stock market boom. Enron embodied all the buzzwords. It was high tech, it was asset-light (if only we knew how light!) and it had “skin in the game” for every game under the sun. Oh, and it was all a mirage. Which brings us to a fundamental point that was overlooked in the go-go …
Choosing a Section 529 College Savings Plan
April 1, 2002A Section 529 plan is a good way to leverage the money you save for your child’s education, but consider the advantages and disadvantages of individual plans before you choose one. Nearly every state has independently established its own Section 529 plan — some have several — and they’re not all alike. There are two types of Section 529 plans, “prepaid tuition plans” and “college savings plans.” Prepaid tuition plans …
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