New Tax Rules, Responses In 2013

April 1, 2013

Recent tax law changes will impact many taxpayers in 2013, even those who don’t meet the government’s various definitions of “high-income.”

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The Fine Art Of Establishing Value

April 1, 2013

Tax planning is not a glamorous profession. But now and then, you find yourself staring down the wallet of an imaginary Chinese billionaire.

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Plan Now for Higher Taxes Ahead

November 8, 2012

Have you considered what you can do to put yourself in the best tax position as the current year ends and the new one begins?

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A Look Over The Edge Of The Fiscal Cliff

October 4, 2012

Can we hope for a soft landing if we tumble over the fiscal cliff?

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Tis Better To Give Than To Receive After All: The Benefits Of CLATs

July 2, 2012

Philanthropy is a worthy end alone, but what if you could increase your charitable giving while at the same time reducing your income, gift and estate taxes and earning a reasonable rate of return to boot? It may sound too good to be true, but it isn’t. A Charitable Lead Annuity Trust (CLAT) brings this dream to reality. In this sort of trust, the donor first contributes assets to the …

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Pay As You Go: Tax Rules Upon Expatriation

June 11, 2012

As the United States tax code grows each year, so too does the number of American citizens contemplating expatriation. Any who think relinquishing their citizenship will be as simple as buying a plane ticket, however, should reconsider. The United States stands alone as the only major country that taxes its citizens regardless of where they live; other countries only tax income earned within their borders. This situation and new, aggressive …

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Estate Planning In An Uncertain Environment

April 2, 2012

A few years ago, I was working with a client, a retired executive, to update his estate plan. Like most retirees, he enjoyed playing golf and spending time with family and friends much more than working through his estate plan. His aversion was magnified because he just wasn’t comfortable with the important decisions that had to be made. We’d talk on the phone about the next steps; he’d meet with …

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Tax Changes In 2012

Tax Changes In 2012 April 2, 2012

As you complete your 2011 tax return checklist, you may not have considered the last step: thinking about your 2012 taxes. Avoid the temptation to ignore taxes until this time next year. The good news is that most taxpayers will be affected only by a few small changes for 2012. However, many tax provisions are set to expire at the end of the year, which makes it an important one …

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No Interest In Foreign Accounts

November 3, 2011

The IRS has been aggressive recently in pursuing tax cheats who have hidden assets in offshore accounts. Penalties for not reporting the existence of foreign accounts are steep, which concerns even honest businesses and individuals that are unsure about their filing obligations. Generally, U.S. taxpayers with a financial interest in foreign financial accounts are required to file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (often referred …

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Capital Gains Planning Strategies

October 10, 2011

Capital gains tax rates are at historic lows, but they are in the political crosshairs. It’s a good idea to take advantage of planning strategies now. Capital gains contribute to a taxpayer’s adjusted gross income. An investor realizes capital gains when he sells investments for more than he paid for them; capital losses are the opposite. All of an investor’s capital gains and capital losses are first combined to create …

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