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Tag Archives: gift tax
Estate Planning in 2013
Posted in Estate Planning, Estate Planning in 2013, Estate Planning in 2013, News, Treatises
Tagged applicable exclusion amount, carryover basis, completed gift, Congress, estate planning, estate tax, form 709, gift tax, gross estate, GST, marital deduction, new york estate tax, QTIP, QTIP election, surviving spouse, tax planning
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Summary of Tax Changes Under American Taxpayer Relief Act of 2012
(1) Ordinary Income. Beginning in the 2013 taxable year, single taxpayers with ordinary income over $400,000 and married taxpayers filing jointly whose income exceeds $450,000 will be subject to a new higher 39.6 percent tax rate. [These … Continue reading
Posted in News
Tagged Congress, estate tax, gift tax, income tax, irs, Medicare, President Obama, tax legislation, tax planning, treasury
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Tax News & Comment — October 2013
Posted in News, Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, audit, completed gift, Congress, credit shelter trust, deferred exchange, Delaware Asset Protection Trust, disclaimers, division of tax appeals, estate attorney, estate planning, estate tax, form 709, gift tax, income tax, irs, like kind exchange, marital deduction, new york estate tax, President Obama, probate, QTIP, QTIP election, qualified intermediary, statute of limitations, surviving spouse, tax appeals tribunal, tax attorney, tax fraud, tax lawyer, tax legislation, tax planning, treasury, valuation discount
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Tax and Legal Issues Arising in Connection With The Federal Gift Tax Return (2013 Revision)
Posted in Estate Planning, Federal Gift Tax, Gift Tax Planning, Gifts to Minors, Tax & Legal Issues Arising in Connection with the Federal Gift Tax Return (2013 Revision), Treatises
Tagged applicable exclusion amount, completed gift, deceased spouse unused exclusion amount, DSUE, estate planning, estate tax, gift tax, marital deduction, QTIP, QTIP election, tax planning
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The Decedent’s Last Will: A Final Profound Statement
Introduction. A will is a written declaration providing for the transfer of property at death. Although having legal significance during life, the will is without legal force until it “speaks” at death. Upon the death of the decedent, rights of … Continue reading
Tax News & Comment — May 2013
Tax News & Comment — May 2013
Posted in Tax News & Comment
Tagged applicable exclusion amount, credit shelter trust, Delaware Asset Protection Trust, estate planning, estate tax, gift tax, gross estate, GST, probate, tax appeals tribunal, tax lawyer, tax legislation, tax planning
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Portability of Estate Tax Exclusion — Did Congress Guild the Lily?
View in PDF: Tax News & Comment — February 2013 I. Introduction As part of the 2010 Tax Act, Congress enacted a statute allowing a surviving spouse to utilize the unused portion of the predeceasing spouse’s lifetime estate tax … Continue reading
Posted in Estate Planning, Gift Tax Planning, Lifetime Exclusion, Portability
Tagged advantages of portability, applicable exclusion amount, credit shelter trust, credit shelter trust vs. portability, deceased spousal exclusion amount, disadvantages of portability, DSUE, electing portability, estate attorney, estate planning, estate tax, estate tax exclusion, estate tax return, gift tax, gross estate, GST, ILIT, IRS estate tax audits, new york estate tax, Portability, QTIP election, QTIP Trust, tax attorney, tax lawyer
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Portability of Estate Tax Exclusion — Did Congress Guild the Lily?
View in PDF: Tax News & Comment — February 2013 I. Introduction As part of the 2010 Tax Act, Congress enacted a statute allowing a surviving spouse to utilize the unused portion of the predeceasing spouse’s lifetime estate tax … Continue reading
Posted in Estate Planning, Lifetime Exclusion, Portability
Tagged advantages of portability, applicable exclusion amount, credit shelter trust, credit shelter trust vs. portability, deceased spousal exclusion amount, disadvantages of portability, DSUE, electing portability, estate planning, estate tax, estate tax exclusion, estate tax return, gift tax, gross estate, GST, ILIT, IRS estate tax audits, new york estate tax, Portability, QTIP election, QTIP Trust
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2012 Taxpayer Relief Act & Tax Outlook for 2013
View in PDF: Tax News & Comment — February 2013 2012 Taxpayer Relief Act & Tax Outlook for 2013 I. Overview of Act On January 2, President Obama signed the American Taxpayer Relief Act of 2012 (the Act) into law, … Continue reading
Posted in From Washington, News, Tax News & Comment
Tagged applicable exclusion amount, asset protection, audit, Congress, estate attorney, estate planning, estate tax, gift tax, gross estate, income tax, Internal Revenue Service, like kind exchange, marital deduction, Medicaid, Medicare, new york estate tax, Portability, President Obama, probate, QTIP, tax attorney, tax lawyer, tax planning, valuation discount
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Tax News & Comment — February 2013
View in PDF: Tax News & Comment — February 2013
Posted in Tax News & Comment
Tagged applicable exclusion amount, asset protection, asset protection trusts, credit shelter trust, estate attorney, estate planning, estate tax, gift tax, gross estate, GST, ILIT, irs, like kind exchange, marital deduction, New York decanting statute, new york estate tax, President Obama, probate, QTIP, tax attorney, tax lawyer, tax legislation, tax planning
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Tax News & Comment — October 2012
View in PDF: Tax News & Comment — October 2012
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, carryover basis, Congress, credit shelter trust, Delaware Asset Protection Trust, division of tax appeals, estate attorney, estate planning, estate tax, form 709, gift tax, gross estate, GST, income tax, Obama taxes, surviving spouse, tax appeals tribunal, tax attorney, tax lawyer, tax legislation, tax planning
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2011 Tax and Estate Planning Decisions of Note
A. Issues Arising Under IRC §2036 An important objective in estate tax planning is to transfer of assets out of one’s taxable estate, while retaining a degree of beneficial enjoyment over the transferred property. Where the IRS believes too much … Continue reading
Tax News & Comment — February 2012
Tax News & Comment — February 2012
Posted in Tax News & Comment
Tagged applicable exclusion amount, asset protection, asset protection trusts, credit shelter trust, Delaware Asset Protection Trust, estate planning, gift tax, probate, QTIP election, statute of limitations, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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Differing Tax Visions of President Obama and Governor Romney
Much has been made of the recent revelation that Governor Romney enjoyed a 14 percent tax rate on “carried interest,” which Congress permits to be reported as capital gain. Investors such as Mr. Romney pay a lower rate of tax … Continue reading
Posted in From Washington, Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, audit, carryover basis, completed gift, Congress, credit shelter trust, Delaware Asset Protection Trust, disclaimers, division of tax appeals, estate planning, estate tax, gift tax, gross estate, ILIT, income tax, irs
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Recent IRS Developments — October 2031
I. Taxpayer Advocate Issues 2014 Report National Taxpayer Advocate Nina Olson recently issued a report detailing the issues on which the Taxpayer Advocate Service (TAS) will focus during the fiscal 2014 tax year. IR-2013-63. The Taxpayer Advocate is required by … Continue reading →