The tax consequences of expatriation for U.S. citizens and long-term green card holders after June 17, 2008 can be enormous. With the exception of deferred compensation items, interests in non-grantor trusts, and specified tax deferred accounts, all other assets of the expatriating taxpayer are deemed sold at fair market value on the day before the...
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When an individual purchases property, inherits property, or is gifted property, they obtain a tax basis in the property. Basis is generally the amount of the taxpayer’s capital investment in the property, which is subsequently increased or decreased for events that occur during their ownership of the property. As the applicable estate and gi...
Education is an expense that impacts many families each year. As the cost of secondary and higher education continue to rise, many families should consider the tax benefits of funding educational expenses. The type of vehicle used to fund educational expenses varies and can include education trusts and qualified tuition programs that are designed a...
There are many considerations that go into making a planned gift, including the maximization of its impact. There are three types of planned giving: lifetime giving, giving at death, and hybrid planned giving. Factors to consider are whether you have the capacity to make sizeable gifts during your lifetime, the potential for income streams during l...
Many nonresidents of the U.S. are unaware that they may be subject to U.S. estate tax based on their ownership of U.S. situs assets. This can can lead to unexpected results for foreign taxpayers who invest in U.S. assets during their lifetime. After the foreign taxpayer’s death, the executor of their estate may have U.S. tax reporting require...
The ability to attract, retain, and reward a superior workforce is fundamental to every organization’s long-term growth. One way to achieve it is to offer stock options to employees, giving them a stake in the company’s value as part of their compensation package. In general, there are two forms of stock options: nonqualified stock opti...
Following recent amendments to the tax code, both the applicable estate and gift tax exemption and the GST exemption were increased to $11,180,000. This nearly doubled the exemptions available in 2017. Taxpayers may consider making additional gifts to already existing dynasty trust in order to further supercharge the trust. They may also consider a...
Tax reform has necessitated a reevaluation of many individual’s estate plans. It significantly increased the ability of high-net-worth individuals and families to pass wealth free of estate, gift, and generation-skipping transfer (GST) taxes, while increasing the importance of income tax planning due to changes to income tax rates and bracket...
The bond market often provides important clues about investor expectations that are harder to discern from the daily vacillations of stock prices. Today the jump in 10-year yields has widened the spread between 2’s and 10’s to 34 basis points, moving further away from the feared inverted yield curve condition. And based upon little chan...
Charitable giving in the U.S. has grown to record levels in recent years, and donor-advised funds (DAFs) account for nearly 10% of all U.S. charitable giving. Learn why benefits such as tax savings, modest costs, and increased flexibility and convenience can make DAFs an attractive option for those looking to donate.
The fundamentals of CLO investing are largely unchanged since the earliest days of the market. Analysts must still make judgments about the three key components of any CLO: portfolio, structure, and manager. Each of these components presents a complex mix of risk and value that must then be evaluated holistically—in aggregate. When investing ...
When surveying the top causes of home damage that might lead to an insurance claim, water damage is the second highest frequency claim category (after wind and hail). With concerted and targeted educational efforts, water loss prevention measures can become more common place and damage can be prevented.
Both New York State and New York City have recently passed a series of laws that significantly increased the protections against sexual harassment in the workplace. These laws outline additional and specific requirements—including the adoption of anti-sexual harassment policies and training—that employers must comply with over the next ...
With the passage of the recently enacted Tax Cuts and Jobs Act, a significant opportunity exists for investors to defer capital gains tax owed via the establishment of the newly created Federal Opportunity Zones (the “O-Zones”). By investing in Qualified Opportunity Funds, investors can defer tax on capital gains that arose in the last ...
In order to sustain their businesses for the long term, successful business owners tend to be thoughtful in their investments. They act like chess masters, deciding their next five moves in order to maintain a competitive edge and stay in the game. Yet throughout this business cycle, the RSM US Middle Market Business Index has shown that middle mar...