Gift Tax

Estate Tax Claw Back – Don’t Worry About It, Says AALU

Posted on: February 4th, 2011
Since the enactment of TRA 2010 in December of last year, tax practitioners have been concerned that gifts made during 2011 and 2012 may, partially because of the way in which the current Federal Estate and Generation-Skipping Transfer Tax Return (Form 706) ...

Obama Signs 2010 Tax Relief Act

Posted on: December 17th, 2010
This afternoon, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. This legislation, negotiated by the White House and select members of the House and Senate, provides for a short-term extension of tax cuts made in 2001....

Middle Class Tax Cut Act of 2010 – Proposed Bill

Posted on: December 3rd, 2010
The legislative text and summary of the Middle Class Tax Cut Act of 2010, released yesterday by Senate Finance Committee Chairman Max Baucus (D-Mont.), is now available at the Finance Committee’s website A summary of some of the estate tax provisions is set out below....

The Time for FLPs or FLLCs is Now!

Posted on: January 9th, 2010
This is from Steve Akers’ recent presentation, Estate Planning in Light of One-Year ‘Repeal’ of Estate and GST Tax in 2010:...

Planning with the Wyoming Close LLC

Posted on: December 21st, 2009
What is an LLC? In 1977 Wyoming was the first state to enact laws permitting the creation of a Limited Liability Company. ...

Year End Gift Checks – make sure you do it right

Posted on: November 19th, 2009
Many people are aware that they can give any number of other people up to $13,000 per year under the federal gift tax annual exclusion (IRC Section 2503(b)). Staying under this number means that no gift tax return has to be filed and that there will be no reduction in the amount that can be passed free of estate taxes at the donor’s death. ...
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