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Tag Archives: new york estate tax
From Washington & Albany — August 2014
I. From Albany: Perils of Being a Rich State in the Federal System If the United States were the European Union, New York, Connecticut and New Jersey could be compared to Germany and France, which subsidize less wealthy E.U. members. … Continue reading
Posted in Federal Income Tax, From Albany, From Washington, Like Kind Exchanges, New York State Income Tax
Tagged 1031, 1031 exchange, Congress, federalism, high income tax states, new york estate tax, President Obama, president obama tax proposals, states with no income tax, tax legislation, tax planning, unequal taxation in states
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From Washington & Albany — Washington: New Taxes Arrive; Governor Cuomo: NY Taxes Too High
I. From Washington A rainbow of new federal income taxes arrived on January 1, 2014, led by the new 3.8 percent “Medicare” tax imposed by IRC §1411. Although enacted as part of the health care legislation of President Obama, … Continue reading
Posted in From Washington, NYS Dept. of Tax'n & Finance, NYS Tax Litigation
Tagged affordable care act, applicable exclusion amount, capital gains tax, division of tax appeals, estate planning, final regulations net investment income tax, income tax, medicare surtax, new york estate tax, nonresident trusts, payroll tax, phaseout of itemized deductions, President Obama, probate, tax legislation, tax planning
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Tax News & Comment — February 2014
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, carryover basis, Congress, credit shelter trust, doma, estate planning, estate tax, Health Insurance Regulations, Medicare Tax, new york estate tax, New York Trust Fiduciaries, New York Trustees, President Obama, Revenue Ruling 85-13, Trustee Commissions, Windsor v. United States
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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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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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Income Taxation of New York Trusts
Posted in Asset Protection Trusts, Estate Planning, Income Taxation of New York Trusts, New York State Income Tax, Treatises, Trustees, Trusts
Tagged asset protection trusts, Mercantile-Safe Deposit & Trust, new york estate tax, New York nonresident trust, New York Resident Trust, New York Source Income, New York Trust Taxation, new york trusts, Tax Law Section 605, Taylor v. New York State Tax Commission, TSB-M-09(5)
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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
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 — August 2011
VIEW IN PDF: Tax News & Comment — August 2011 Approximately one million U.S. taxpayers have at least one financial account located in a foreign country. Many have not reported their offshore accounts to the IRS, a violation with possible … Continue reading
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, carryover basis, credit shelter trust, division of tax appeals, estate planning, estate tax, gross estate, irs, new york estate tax, qualified intermediary, statute of limitations, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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Tax News & Comment — April 2011
View Issue: Tax News & Comment — April 2011 pril 14, 2011 I. ESTATE TAX RETURNS Calculation and remittance of federal and NYS estate tax is of primary concern in administering an estate. An estate tax return must be filed … Continue reading
Posted in 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, form 709, gift, gift tax, gross estate, GST, ILIT, irs, like kind exchange, new york estate tax, probate, QTIP, QTIP election, qualified intermediary, statute of limitations, surviving spouse, tax appeals tribunal, tax legislation, treasury, valuation discount
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Post Mortem Estate & Income Tax Planning
View outline: Post Mortem Estate & Income Tax Planning Post Mortem Estate and Income Tax Planning Outline Post Mortem Estate & Income Tax Planning © 2011 David L. Silverman, J.D., LL.M. (Taxation) Law Offices of David L. Silverman 2001 Marcus … Continue reading
Posted in Estate Planning, Post Mortem Estate & Income Tax Planning, Post Mortem Estate & Income Tax Planning, Post Mortem Estate Planning, Probate & Administration, Treatises
Tagged applicable exclusion amount, estate lawyer, estate planning, estate tax, form 709, gift tax, gross estate, GST, ILIT, life insurance trusts, new york estate tax, probate, QTIP, QTIP election, surviving spouse, tax attorney, tax lawyer, tax planning, valuation discount
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Tax News & Comment — August 2014