Estate Planning 101: 4 Must-Have Documents When Planning Your Estate

President Abraham Lincoln. Civil rights activist Martin Luther King, Jr. Rock guitarist Jimi Hendrix. Eccentric billionaire Howard Hughes. Singer/songwriter Bob Marley. NFL quarterback Steve McNair. Singer/songwriter Prince. What do these famous people

IRS Issues Proposed Regulations That Will Severely Impact Discounts for Gifting to Family

By Julie Frey Discounts for gifts of closely held business interests to family members may be significantly restricted soon.  On August 2, 2016, the Internal Revenue Service issued new Proposed Regulations under Section

IRS Proposes Regulations to Limit Strategy to Avoid Estate Tax

By Jason Palmisano The IRS has issued a notice of proposed regulations to limit the valuation discounts individuals have been afforded when they engage in certain types of intra-family transfers involving their

Plan Ahead to Avoid or Minimize US Estate Tax

  By: Jason Palmisano If you are not a US resident or a US citizen and are considering buying assets in the US, there are ways to avoid or minimize US estate

Five Things You Need to Know Now About the New Partnership Audit Rules

By:  Amanda Wilson For a discussion of the five things you need to know now about the new partnership audit rules, please read my recent article found here.

America’s Un-American Resistance to the Estate Tax

By Jason Palmisano Stephen Martin wrote an interesting article in The Atlantic magazine arguing for bolstering the U.S. federal estate tax as it “is a policy that actually aligns neatly with the

Bad Boy Guarantee Makes Loan Recourse?

By: Amanda Wilson The IRS recently released IRS legal memorandum 201606027.  In this memorandum, the IRS considered the impact of a bad boy guarantee on allocating partnership liabilities under Section 752.  Traditionally,

New Gun Trusts Laws Take Effect July 13, 2016

by Jason Palmisano Firearms such as short-barreled rifle or shotguns, silencers or suppressors, and machine guns (i.e., Title II firearms) are regulated by the federal government as to their purchase, transfer and

FIRPTA Withholding Tax Increases

By:  Amanda Wilson The Foreign Investment in Real Property Tax Act (FIRPTA) subjects foreign sellers to U.S. tax when they sell their interest in real property located in the U.S., including interests in

So you won the powerball, now what?

By: Julia Frey Three people today won the 1.6 billion dollar powerball drawing. One ticket was bought in Melbourne, Florida. If you are the winner what should you do before claiming the