November 29, 2016
Year End Tax Planning & the Kiddie Tax
Year End Tax Planning & the Kiddie Tax - IRC §1(g)(2) - IRS Form 8615...
News
November 22, 2016
Old MacDonald had a Trust EIEIO CLAT CLUT here CRAT CRUT There
Old MacDonald had a Trust EIEIO CLAT CLUT here CRAT CRUT There. The one thing stopping good people from engaging the full force and effect of tax and estate planning using trust instruments is the language. Acronyms make it hard to understand what lawyers are...
November 7, 2016
Donor Advised Funds IRC §4966
In my last post about how year end tax planning starts with reassessing one's commitment to charitable donations I mentioned that my Mom donated her appreciated shares of Exon Mobile to a Donor Advised Fund (DAF). Many readers had questions about what a DAF is and...
October 31, 2016
Year End Tax Planning & Charitable Donation Assessments
Year End Tax Planning Starts with a Charitable Donation Assessment How Do You PLAN to Give Back Next Year?...
October 28, 2016
New requirement for dependents whose passports don’t have a date of entry into the U.S.
The IRS changed its policy on acceptable documentation for issuing dependent Individual Taxpayer Identification Numbers (ITIN). The agency no longer accepts passports that do not have a date of entry into the U.S. as a stand-alone identification document for dependents from countries other than Canada...
October 20, 2016
General Tax Benefits of Charitably Giving
General Tax Benefits of Charitably Giving - Warren Buffet released certain claims made on his 2015 personal income tax return in a statement released by Business Wire, A Berkshire Hathaway Company. It is worth noting his remarkable generosity. Check out these figures: adjusted gross income...
October 6, 2016
Types of Charitable Contributions and the Most Common Way a Charitable Contribution Can Be Made
Types of Charitable Contributions and the Most Common Way a Charitable Contribution Can Be Made. While working on the St. Peter 2016/17 Stewardship Campaign it became very clear to me that some very smart endowed good people simply do not know about the various types of...
September 15, 2016
Charitably Giving with Intention – QCD’s
Charitable giving with intention - QCD's originated out of a more innocent time when I was relatively involved with St. Peter’s Stewardship Committee out here in Greenwood Village, Colorado. Back then my wife and I developed a plan to drill down into several aspects of charitable...
September 13, 2016
Retirement Savings Contribution Catch Up Considerations
If you will be 50 or older by the end of 2016, you may be able to contribute more money every year to your employer-sponsored retirement plans and your individual retirement arrangements. Contributing more money will help you save more for your retirement and reduce...
September 7, 2016
Immediately Effective Changes to IRS ITIN Acceptance Agent Program
According to Brenda L. Hales, Senior Tax Analyst, Internal Revenue Service, ITIN Policy Section-M/S 97-WI of 401 W Peachtree Street NW, Atlanta, GA 30308 the ITIN Acceptance Agent Program includes the following changes made in 2016 and are immediately effective: Certification Process Changes For dependents, Certifying Acceptance Agents (CAA's) will now...