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Articles, tagged with "irs", page 10
Trusts
IRC Section 72 governs the income taxation of annuity contracts. IRC Section 72(u)(1) taxes the income on an annuity contract owned by a “non-natural” person by treating it as though it was received by the non-natural owner. If, however, a non...
Author: Julius Giarmarco, Esq.
Trust-Owned Annuities
25th March 2010IRC Section 72 governs the income taxation of annuity contracts. IRC Section 72(u)(1) taxes the income on an annuity contract owned by a “non-natural” person by treating it as though it was received by the non-natural owner. If, however, a non...
Author: Julius Giarmarco, Esq.
Trusts
A Qualified Personal Residence Trust (QPRT) is an excellent tool for persons with large estates to transfer a principal residence or vacation home at the lowest possible gift tax value. The general rule is that if a person makes a gift of property in whic...
Author: Julius Giarmarco, Esq.
Qualified Personal Residence Trusts
25th March 2010A Qualified Personal Residence Trust (QPRT) is an excellent tool for persons with large estates to transfer a principal residence or vacation home at the lowest possible gift tax value. The general rule is that if a person makes a gift of property in whic...
Author: Julius Giarmarco, Esq.
Estate Planning
Private annuities and self-canceling installment notes (“SCINs”) are both effective wealth transfer planning techniques. There is a present lapse in the estate and generation-skipping transfer taxes, but it’s likely that Congress will re...
Author: Julius Giarmarco, Esq.
Private Annuities and Self-Canceling Installment Notes
25th March 2010Private annuities and self-canceling installment notes (“SCINs”) are both effective wealth transfer planning techniques. There is a present lapse in the estate and generation-skipping transfer taxes, but it’s likely that Congress will re...
Author: Julius Giarmarco, Esq.
Estate Planning
This article will compare three popular wealth transfer techniques that all produce potential estate tax savings by removing future appreciation from the transferor's estate, but without generating significant taxable gifts. Because these techniques produ...
Author: Julius Giarmarco, Esq.
GRATS, Sales to Grantor Trusts, or Private Annuities: Which One is Best?
25th March 2010This article will compare three popular wealth transfer techniques that all produce potential estate tax savings by removing future appreciation from the transferor's estate, but without generating significant taxable gifts. Because these techniques produ...
Author: Julius Giarmarco, Esq.
Estate Planning
A Grantor Retained Annuity Trust or “GRAT” is one of the most powerful and tax efficient wealth transfer tools available today. A GRAT allows a person to transfer the future appreciation of an asset to his/her children with little or no gift t...
Author: Julius Giarmarco, Esq.
Grantor Retained Annuity Trusts
24th March 2010A Grantor Retained Annuity Trust or “GRAT” is one of the most powerful and tax efficient wealth transfer tools available today. A GRAT allows a person to transfer the future appreciation of an asset to his/her children with little or no gift t...
Author: Julius Giarmarco, Esq.
Taxes
Many people get the tax time jitters... You wait anxiously for your accountant to tell you the good news or the bad news. But it doesn't always have to be like this. You can help yourself by minimizing how much money you could owe at the next tax year. Kn...
Author: Arun
How to Minimize the Different Forms of Tax liability
23rd March 2010Many people get the tax time jitters... You wait anxiously for your accountant to tell you the good news or the bad news. But it doesn't always have to be like this. You can help yourself by minimizing how much money you could owe at the next tax year. Kn...
Author: Arun
Taxes
Paying off tax debt is a difficult thing to do. Especially if you have no money to pay off such a large lump sum of debt. Especially if its 10,000 dollars worth! In this instance there is a way to pay off your debt easily and quickly. This is called an ...
Author: ConnorBringas
10000 Tax Debt
22nd March 2010Paying off tax debt is a difficult thing to do. Especially if you have no money to pay off such a large lump sum of debt. Especially if its 10,000 dollars worth! In this instance there is a way to pay off your debt easily and quickly. This is called an ...
Author: ConnorBringas
Taxes
As a small enterprise holder, you most in all likelihood be dismayed hearing the remarks "tax season." This time of year forces you to wear more hats. You're not only the cause for filing your own duties, but your people employed are in addition relying o...
Author: Arun
Online Tax Forms are a Gift That Saves Time from SME to MNC
22nd March 2010As a small enterprise holder, you most in all likelihood be dismayed hearing the remarks "tax season." This time of year forces you to wear more hats. You're not only the cause for filing your own duties, but your people employed are in addition relying o...
Author: Arun
Taxes
The one thing that joins every individual in the United States is tax. This is easily because we all have to pay! Most persons aim on April as the key time for levy filings, but companies little and large don't have that much time. Instead, they should d...
Author: Arun
How to Get Extension on Corporate Tax Form Returns
22nd March 2010The one thing that joins every individual in the United States is tax. This is easily because we all have to pay! Most persons aim on April as the key time for levy filings, but companies little and large don't have that much time. Instead, they should d...
Author: Arun
Trusts
Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under “creditors” are the IRS and divorced spouses. More sophisticated estate planners generally create m...
Author: Julius Giarmarco, Esq.
Using Trusts to Protect Heirs
19th March 2010Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under “creditors” are the IRS and divorced spouses. More sophisticated estate planners generally create m...
Author: Julius Giarmarco, Esq.
Bankruptcy Law
On October 17, 2005, new bankruptcy law went into effect, changing the process of filing for bankruptcy throughout the United States. This new shift in law requires additional steps to be taken by the attorney and the debtor but has been geared toward ben...
Author: Campbell Grenier
New Bankruptcy Law Explained
17th March 2010On October 17, 2005, new bankruptcy law went into effect, changing the process of filing for bankruptcy throughout the United States. This new shift in law requires additional steps to be taken by the attorney and the debtor but has been geared toward ben...
Author: Campbell Grenier
Bankruptcy Law
Are you planning to file bankruptcy? This article can help you. Your assets will be put up for sale to pay off your existing debts. Filing bankruptcy is not easy. You have to prove that you are bankrupt. You will need to prove that you cannot afford to pa...
Author: Rudy Silva
Here, At Last Chapter 7 Bankruptcy Information
16th March 2010Are you planning to file bankruptcy? This article can help you. Your assets will be put up for sale to pay off your existing debts. Filing bankruptcy is not easy. You have to prove that you are bankrupt. You will need to prove that you cannot afford to pa...
Author: Rudy Silva
Taxes
It is little confusing how to prepare and file taxes when tax season closes quickly because you have to complete your task before the deadline to avoid late file penalties. So, you have to quickly make up your mind whether you will be able to prepare your...
Author: Daniel Jaeger
Online Tax Preparation and Tax Filing - Quickly E-File Your Tax Return
16th March 2010It is little confusing how to prepare and file taxes when tax season closes quickly because you have to complete your task before the deadline to avoid late file penalties. So, you have to quickly make up your mind whether you will be able to prepare your...
Author: Daniel Jaeger
Taxes
Upon receiving a favorable decision in your claim for Social Security benefits, it is the natural tendency for claimants to breathe a sigh of relief and start planning how to spend the award money. Maybe past due bills will finally be paid off; or perhaps...
Author: Ginny
Income Tax and Social Security Benefits
11th March 2010Upon receiving a favorable decision in your claim for Social Security benefits, it is the natural tendency for claimants to breathe a sigh of relief and start planning how to spend the award money. Maybe past due bills will finally be paid off; or perhaps...
Author: Ginny
Taxes
Whether the tax preparer you used last year will file your income tax return or you're planning on hiring a new one, make sure to thoroughly evaluate them. There have been more changes to the tax code this year than perhaps any year in history, so having...
Author: Ryan Himmel
Choosing the Right Tax Preparer For Tax Help
22nd February 2010Whether the tax preparer you used last year will file your income tax return or you're planning on hiring a new one, make sure to thoroughly evaluate them. There have been more changes to the tax code this year than perhaps any year in history, so having...
Author: Ryan Himmel