The concept of enjoying luxury cars, yachts or aircraft while also using them in your tax planning can be alluring. However, it’s critical to approach these opportunities with caution and compliance.
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Tag Archives: Tax Issues (Sentinel)
Education Savings 101: The 529 Plan
Not every Section 529 plan is the same. Choosing the right plan will help you to get the most out of your education savings.
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Don’t Get Lost When Claiming EV Credits
A potential bonus from an electric vehicle is money back in your pocket from tax incentives — if you can navigate the process.
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The September Tax Data Dump
There are a variety of reasons a taxpayer could need an extension, but a common one is waiting on a form that an organization has not yet issued. Some of the most common forms that leave taxpayers waiting are Schedule K-1s, K-2s and K-3s.
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Gift-Giving Makes Good Tax Sense, Except When It Doesn’t
Balancing the benefits of lifetime gifts and bequests that receive a step-up in basis is a complicated exercise. But taking the time to weigh the benefits and drawbacks of different approaches can help you make the most of the current regulations without neglecting long-term concerns.
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Fixing Foreign Filing Errors With The IRS
The complications of reporting foreign financial activities means that taxpayers can discover they need to fix their foreign tax filings after the fact.
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Tax Planning Amid A Window Of Stability
After the midterm elections, taxpayers are likely to face a quiet few years before the tax landscape potentially shifts in a more substantial way.
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A Closer Look At Capital Gains (Part II)
Keeping your approach simple has its upsides, but advanced capital gains tax planning can take your tax savings to the next level.
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A Closer Look At Capital Gains (Part I)
Income tax planning comes in many different forms, but effective capital gains planning often has the biggest long-term impact on the wealth of successful people.
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Securing Your IRA Goals After The SECURE Act
January 2020 may feel like a long time ago, but it marked a relatively recent update to the rules governing retirement accounts, especially individual retirement accounts. This means that even if you previously decided how to handle your traditional or Roth IRA upon your death, you may need to revisit your plan to ensure it still works the way you intend.
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