Download Printable Article By Kristina Schneider, Executive Assistant An executive assistant is probably one of the most important support staff members that any busy professional could possibly have, regardless of his or her profession. One of the things that we hear all the time from our boss, Phil Kavesh, is that his executive assistant is actually his boss. Of course, this doesn’t give us, as executive assistants, the same kind of “power” that a normal boss might have over an employee. What being the boss of your boss means is that you are supporting your boss and directing his or…
Harvesting Capital Losses
Download Printable Article By Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA The recent volatility in the stock market should reinforce the idea that it’s not what you earn that counts, but what you keep. In 2013 the top tax rate on dividends and long-term capital gains increased from 15% to 20%. When the 3.8% surtax on net investment income is added, the total tax rate on interest, rents, dividends, annuities, royalties, non-business capital gains and passive activities can increase the total tax rate to as much as 23.8% for long-term capital gains. Over time, taxes can have a profound…
50% OFF ALL ON-DEMAND PROGRAMS! EXPIRES AUGUST 31ST!
The Kids Are Going Back to School, And So Are You! (And Get a Special, Limited-Time Discount, Too!) The kids, whether young or college-age, might be getting ready to go back to school (or may have even started already), and there is no better time to get caught up on all of the latest estate, tax, and financial planning strategies and techniques out there right now. We know that you summer may have been a busy time for you and to help get you back into the groove of things, we want to offer you a very special opportunity to…
The GREAT Debate: The Client Maintenance Plan vs. The Free Service Package
Download Printable Article By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law A growing number of estate planning attorneys have adopted client maintenance plans, where clients pre-pay a fee each year to obtain certain ongoing services. Theoretically, this is a great way for you to annuitize the value of your practice and create a “guaranteed” base income each year from your existing client base. I know of attorneys who do generate hundreds of thousands of revenue each year this way. But at what real cost? When evaluating a…
Release of 1st Annual Non-Grantor Trust State Income Tax Chart
Download Printable Article By Steven J. Oshins Esq., AEP (Distinguished) The 1st Annual Non-Grantor Trust State Income Tax Chart is a two-page summary of the non-grantor trust state income tax rules in all states and Washington, D.C. The Chart can be accessed by clicking here. Each state and Washington, D.C. is listed in alphabetical order with the applicable statutory cite that is linked to the online taxing statute. Each jurisdiction’s taxing rules are described briefly so the user can generally know the rules without having to read through the entire statute. The online user should always click the link to…
Federal Income Tax Planning for Trusts
Download Printable Article By Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA Following the American Taxpayer Relief Act of 2012 (ATRA), federal income tax planning for trusts is more important than ever. A new 39.6% bracket was added for ordinary income and a new 20% bracket was added for long-term capital gains. Moreover, if the new 3.8% net investment income tax (NIIT) is factored in, the top tax rates are now as high as 43.4% for ordinary income and 23.8% for long-term capital gains. Fortunately, there are a number of tax planning strategies available. These include: (1) Shifting trust income to…
Financial Advisor: Attract Generation X & Y Clients
Download Printable Article By Mark Dreschler, President & CEO at Premier Trust and Deborah Erdmann, QKA, CISP, Vice President & Trust Officer at Premier Trust Attracting and retaining the Generation X & Y children of your current clients is an important strategy for a financial advisor to retain assets. According to the Investment Management Consultants Association, only 2% of children keep inheritances with their parent’s financial advisor. As your core baby boomer client base continues to age and draw down assets, you’re probably already thinking of ways to generate new revenue. In this article we will discuss how to grow…
SPECIAL ANNOUNCEMENT: WealthCounsel 2015 Symposium Attendees
If You’re Attending the 2015 WealthCounsel National Conference… 5 Key Reasons You Need to Stop By BOOTH #4! FREE PRODUCT—All attendees will receive a complimentary product valued up to $199! CLIENT MAINTENANCE PLANS vs. FREE SERVICE PACKAGE—Find out about our upcoming 2-part program to address one of the hottest debates in developing a successful estate planning practice! PRACTICE-BUILDING & MARKETING PACKAGES—Tested and proven tools to help your practice in today’s highly competitive estate planning market. Plus, find out about our new Starter Kits and Bundle Packages! FREE CONSULTATION—Fellow WealthCounsel member, Phil Kavesh, will be offering limited one-on-one consultations during…
Robert Keebler’s Portability After the Final Regulations Briefing
On June 16, 2015, the IRS released the final regulations pertaining the Portability. The most important issue is confirmation that late corrective elections are available for gross estates under the basic exclusion amount and not available for gross estates exceeding the exclusion. If you have clients (or prospective clients) with sizable income from interest, dividends, rents, capital gains or royalties, you can become a “hero” and their most talked-about advisor. The IRS has now issued its Final Regulations, effective June 12, 2015, and it appears that this new tax is far more complex than originally thought. To help you navigate…
5 Things Every Estate Planning Attorney Needs to Know About Using an Asset Protection Single Member LLC
By Mason D. Salisbury, J.D. Single Member Limited Liability Companies (or “SMLLCs”) are the basic building blocks of asset protection entities. For many clients, SMLLCs may be the only asset protection entity they need. However, not all SMLLCs are created equal as asset protectors and some (too many) are hardly worth the paper they are filed on. An asset protection SMLLC is specifically organized at every point to fight and win against creditor attorneys, that is, to actually provide asset protection if challenged. Below are five things every estate planning attorney should know about using SMLLCs to protect client’s assets….