Law Offices of David L. Silverman, J.D., LL.M.

Law Offices of David L. Silverman, J.D., LL.M.

• Estate Planning in 2010: Treatise July 26, 2010
  Estate Planning in 2010: Treatise PDF:  Estate Planning Outline © 2010 David L. Silverman, J.D., LL.M. (Taxation) Law Offices of David L. Silverman 2001 Marcus Avenue, Suite 265A South Lake Success, NY 11042 (516) 466-5900 July 26, 2010 Estate Planning in 2010:  Comprehensive Analysis © 2010 David L. Silverman, J.D., LL.M. (Taxation) Law Offices of [...]
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• Tax News & Comment — June, 2010 June 26, 2010
  To view full issue: Tax News & Comment — June, 2010 To View Full Issue:  Tax News & Comment — June, 2010 The June, 2010 issue of Tax News & Comment, in “From Washington,”  discusses the new $56 billion tax bill passed by the House of Representatives on May 29, entitled the “American Jobs and [...]
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• Asset Protection Seminar: July 27, 2010 in Lake Success, NY June 26, 2010
  Download Seminar Invitation:  Asset Protection Seminar Invitation I would like to register for the July 27, 2010 Asset Protection Seminar: Filed under: News, Seminars, Tax News & Comment Tagged: asset protection, asset protection trusts, Delaware Asset Protection Trust, estate planning, estate tax, gift tax, tax planning
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• Asset Sales to Grantor Trusts: Antidote to New Estate Tax? June 25, 2010
  I.     Introduction Asset sales to grantor trusts exploit income tax provisions enacted to prevent income shifting by capitalizing on different definitions of “transfer” for transfer and income tax purposes. The objective of the sale is to effectuate a complete transfer for transfer tax purposes, but not for income tax purposes. Since no transfer occurs for […]
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• Marital Deduction Planning June 25, 2010
  I.    Review of Current Wills The estate tax will resume no later than January 1, 2011. At that time, the exemption amount may be $1 million (if Congress fails to do anything), or it could be between $3 million and $5 million. Under many current wills, if either spouse were to die in 2010 at [...]
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• Gift Planning in 2010 June 25, 2010
  I.    Introduction Many taxpayers wish to transfer assets to their children during their lifetimes rather than at their death. Therefore, lifetime transfer planning remains important for reasons wholly independent from the fate of the estate tax. While the $1 million lifetime gift tax exclusion amount is a hindrance to large gratuitous transfers, gifts of in […]
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• House Passes $56 Billion “Tax Extenders” Bill June 25, 2010
  The House, on May 29, by a vote of 215-204, approved a $56 billion tax bill, the “American Jobs and Closing Tax Loopholes Act”. The Senate has already approved a similar measure. President Obama is expected to sign the bill. Most of the provisions retroactively extend to December 31, 2010, tax provisions that expired on [...]
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• Northern District Finds Successive Tax Penalties Imposed by NYS-AG and NYS-DTF to be Unconstitutional June 25, 2010
  Finding that Tax Law § 481(1)(b)(i) effectively operates as a criminal penalty, the Northern District  held that the assessment of a tax penalty by the Department of Taxation and Finance under § 481(1)(b)(i) following the taxpayer’s previous prosecution and conviction by the Attorney General for the same offense under Tax Law § 1814, violated the [...]
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• New Carryover Basis Rules June 25, 2010
  Prior to 2010, property acquired from a decedent generally received a stepped-up basis under IRC § 1014. The purpose of the statute is to avoid the double taxation that would result if the asset were first subject to estate tax at the death of the decedent, and then to income tax when the beneficiary sold [...]
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• 2010 Tax Outlook May 4, 2010
  © 2010 Law Offices of David L. Silverman, J.D., LL.M, Lake Success,  NY  11042   (516) 466-5900 2010 Tax Outlook For PDF version, press here:  PFD file I.    Proposals From the White House President Obama favors permanently extending tax cuts enacted in 2001 and 2003 for individuals with incomes above $200,000 and families with incomes above [...]
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