Estate Planning

CCH Tax Briefing, Sunset of 2001 and 2003 Tax Cuts


This recent guide published by our CCH tax service outlines the impact of the expiration of the Bush era tax cuts enacted in 2001, and 2003.  Many of you may be suprised the effect these sunset provisions will have on you, regardless as to your tax bracket.

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The Gift of Giving


With the December 31 expiration of the recently increased $5 million dollar estate and gift tax exclusion, the opportunity to gift large sums of property to heirs is quickly closing.  Not everyone has a spare $5 million to give away, but this recent article in Barron's outlines the rules and possibilities.

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The Coming Flood of Estate Tax Returns

Tax Policy Center

The following article from the Tax Policy Center emphasizes the need for estates to file U.S. estate returns even if they aren’t subject to tax.

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Estate Return Rules for Individuals Who Died in 2010 – New Form 8939 and the affect on U.S. and Foreign Individuals

Wade Wilson, CPA

To file or not to file?  Executors of 2010 estates have some decisions to make.  For individuals who died in 2010, the 2010 Tax Relief Act reinstated the U.S. estate tax.  Therefore, 2010 estates are subject to tax the same way estates of individuals who died prior to 2010 were taxed.  An election to opt out of the estate tax is available, but you must act before January 17, 2012.  Executors must carefully consider the tax consequences of each choice before making a decision.

IRS Loses a Gift-Tax Battle

The Wall Street Journal

This article outlines a recent tax case where a taxpayer reduced her risk associated with valuing gifted assets to an LLC by directing any valuation adjustment by the IRS to go to charity.


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How Low Rates Can Cut Your Tax Bill

The Wall Street Journal

This recent article outlines one of our favorite estate tax savings strategies, loans to family members.  This strategy works very well currently because of the minimum interest rate you must charge on loans between family members.  The strategy can be structured in different ways including the one discussed in the article.

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