Posts by Kristina Schneider
CHECKLIST: 2017 Tax Act & Recent Developments
By Martin M. Shenkman, CPA, MBA, PFS, AEP (Distinguished), J.D. Summary: The 2017 Tax Cut and Jobs Act has changed almost every aspect of planning. Consider the following. √ Sec. 199A: The 20% QBI deduction applies for 2018 – 2025. Consider the sunset of this tax bennie when evaluating the cost of planning to enhance whatever benefits you can…
Read MoreSection 199A: Triple Net Leases Considered a Trade or Business?
By Alan S. Gassman J.D., LL.M. (Taxation), Florida State Bar Certified Specialist in Wills, Trusts & Estates, AEP (Distinguished) and Kelsey Weiss Introduction The 2017 Tax Cuts and Jobs Act introduced the new, and sometimes problematic, Section 199A to the Internal Revenue Code. Section 199A was designed to provide taxpayers with a 20% deduction for qualified…
Read MoreDynasty Trust Situs Battle Royale
By Steven J. Oshins, Esq., AEP (Distinguished) A “Dynasty Trust” is an irrevocable trust that continues for as long as the applicable state law allows. For as long as it continues, the trust assets can be protected from estate taxes and, depending upon the choice of situs and how the trust is drafted, can also…
Read MoreThe LeBron of Asset Protection Trusts
By Steven J. Oshins, Esq., AEP (Distinguished) What does LeBron Symbolize? LeBron James is the greatest current basketball player on the planet. In fact, he is arguably the greatest of all time. [If this article were written 20 or 30 years ago, it would have been called, “The Michael of Asset Protection Planning Trusts” to…
Read MoreNon-Grantor Trusts & Property Tax Deductions on Your Home with Marty Shenkman
[LIFTER-video size=”standard”]https://vimeo.com/293589346[/LIFTER-video] For more information on this topic, join Marty on Thursday, October 25, 2018 at 9am Pacific Time (12pm Eastern Time) for a special 60-minute teleconference on this topic entitled, “Using Non-Grantor Trusts to Own Homes”. REGISTER NOW
Read MoreIdentifying an Asset Protection Trust Candidate
By Steven J. Oshins, Esq., AEP (Distinguished) If I had a Nickel for Every Time… If I had a nickel for every time an estate planning advisor called or emailed me with a prospective client that they deem to be an absolutely perfect asset protection trust candidate “because they’re in a lot of trouble”, I…
Read More199A – The Real Regulatory Story: Revelations From The Proposed Regulations
By Alan S. Gassman J.D., LL.M. (Taxation), Florida State Bar Certified Specialist in Wills, Trusts & Estates, AEP (Distinguished) As most estate planners know, the new Section 199A proposed regulations were released earlier in August to great fanfare and curiosity. My team and I have spent considerable time, already, poring through the language and changes. We…
Read MoreIRS Notice 2018-54 Warns Taxpayers to Avoid State Work-Arounds $10,000 SALT Deduction Cap
By Steven J. Oshins, Esq., AEP (Distinguished) The $10,000 SALT Deduction Section 11042 of The Tax and Jobs Act limits an individual’s State and Local Tax Deduction (“SALT” deduction) to $10,000 per calendar year. Adoption of State Proposals to Work Around the SALT Deduction Limitations In response to this new limitation, some state legislatures are…
Read MoreEstate Planning is a New Ballgame!
By Martin M. Shenkman, CPA, MBA, PFS, AEP, JDEstate planning is evolving in significant ways, and if you have not updated your planning and documents (planning always must precede documents) for the new world of estate planning, your planning will likely NOT (caps intended) work. In December 2017 what some call the Tax Cut Jobs…
Read MoreDo You Hate Marketing?
By Kristina Schneider When it comes to the idea of marketing, most lawyers cringe. For many lawyers, marketing seems tacky, unprofessional, and perhaps even “beneath” them. They didn’t study for countless hours and pay thousands of dollars to get all those degrees and credentials behind their name to then be bothered with the idea of marketing.…
Read More