Latest Blog Posts

New Private Letter Ruling Breathes Life into Nevada Incomplete Gift Non-Grantor Trusts

Posted on: April 18th, 2013
PLR 201310002 (released March 8, 2013) is great news for taxpayers wishing to use a very powerful tax-planning strategy. Taxpayers in high tax states with large unrealized capital gains or a regular stream of ordinary income from an investment portfolio have always wanted to find a way to eliminate or minimize their state tax exposure without giving up the economic benefit of the underlying assets. Over time, such a strategy could produce dramatic results. ...

Net Unrealized Appreciation: The Untold Story

Posted on: March 17th, 2013
If you participate in a 401(k), ESOP, or other qualified retirement plan that lets you invest in your employer's stock, you need to know about net unrealized appreciation--a simple tax deferral opportunity with an unfortunately complicated name....

Understanding the New Medicare Tax on Unearned Income

Posted on: March 16th, 2013
Health-care reform legislation enacted in 2010 included a new 3.8% Medicare tax on the unearned income of certain high-income individuals. The new tax, known as the unearned income Medicare contribution tax, or the net investment income tax (NIIT), took effect on January 1, 2013....

Estate Tax After the Fiscal Cliff

Posted on: March 16th, 2013
After threatening to go over the fiscal cliff, the gift tax, estate tax, and generation-skipping transfer (GST) tax have come in for a soft landing. ...

There's Still Time to Contribute to an IRA for 2012

Posted on: March 14th, 2013
There's still time to make a regular IRA contribution for 2012! You have until your tax return due date (not including extensions) to contribute up to $5,000 for 2012 ($6,000 if you were age 50 by December 31, 2012). For most taxpayers, the contribution deadline for 2012 is April 15, 2013. ...

Understanding the Opportunities with Aid & Attendance Benefits

Posted on: March 14th, 2013