February 9, 2017
Business Entity Selection and the Tax Consequences of Converting
Business Entity Selection and the Tax Consequences of Converting...
News
February 3, 2017
Should you keep a spreadsheet on the differences between the AAA & RE?
Should you keep a spreadsheet on the differences between the AAA & RE?...
January 17, 2017
Nonresident Partners and Shareholders of Colorado Partnerships and S Corps
The Colorado Department of Revenue revised its guidelines in FYI Income 54 regarding people who do not live in Colorado but are partners and/or shareholders of partnerships and/or S corporations in Colorado, ensuring that pass-through entities pay Colorado income tax on their Colorado-source income. This post breaks...
January 2, 2017
Excess Depreciation Claimed – Now What?
Excess Depreciation Claimed - Now What? Justin Fundalinski of Jim Saulnier & Associates, who I met while volunteering time for the betterment of the Financial Planning Association, asked me a procedural question about a fascinating situation he encountered regarding depreciation and disposition of residential rental real...
November 22, 2016
Old MacDonald had a Trust EIEIO CLAT CLUT here CRAT CRUT There
Old MacDonald had a Trust EIEIO CLAT CLUT here CRAT CRUT There. The one thing stopping good people from engaging the full force and effect of tax and estate planning using trust instruments is the language. Acronyms make it hard to understand what lawyers are...
November 7, 2016
Donor Advised Funds IRC §4966
In my last post about how year end tax planning starts with reassessing one's commitment to charitable donations I mentioned that my Mom donated her appreciated shares of Exon Mobile to a Donor Advised Fund (DAF). Many readers had questions about what a DAF is and...
October 31, 2016
Year End Tax Planning & Charitable Donation Assessments
Year End Tax Planning Starts with a Charitable Donation Assessment How Do You PLAN to Give Back Next Year?...
October 28, 2016
New requirement for dependents whose passports don’t have a date of entry into the U.S.
The IRS changed its policy on acceptable documentation for issuing dependent Individual Taxpayer Identification Numbers (ITIN). The agency no longer accepts passports that do not have a date of entry into the U.S. as a stand-alone identification document for dependents from countries other than Canada...
October 20, 2016
General Tax Benefits of Charitably Giving
General Tax Benefits of Charitably Giving - Warren Buffet released certain claims made on his 2015 personal income tax return in a statement released by Business Wire, A Berkshire Hathaway Company. It is worth noting his remarkable generosity. Check out these figures: adjusted gross income...
October 6, 2016
Types of Charitable Contributions and the Most Common Way a Charitable Contribution Can Be Made
Types of Charitable Contributions and the Most Common Way a Charitable Contribution Can Be Made. While working on the St. Peter 2016/17 Stewardship Campaign it became very clear to me that some very smart endowed good people simply do not know about the various types of...