Tax

You Are About To Run Out Of Time To Warn Clients About The New 3.8% Surtax On Net Investment Income

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The new 3.8% surtax on income, known as the net investment income tax (NIIT), is going sneak up on a lot of clients when it shows up for the first time ever on 2013 tax returns. You are about to run out of time to check in with clients to see if they can avert this new tax on net investment income and a bad tax surprise. That's not a lot of time, especially with the holiday this week, but it's enough time to make a phone call, ask a few questions, and possibly save a few clients a few thousand dollars. Robert Keebler gave a webinar about the NIIT yesterday and it received a 4.7 star-rating, th

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Averting State Estate Taxes With Non-Grantor Trusts, Transferring Digital Assets At Death, And The Portability Election: An Update On Estate Planning For Financial Planners

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    Using Incomplete Non-Grantor Trusts To Avert State Income Tax On Capital Gains Recently, the IRS issued a private letter ruling (PLR 201310002) after several years of silence on the issue of incomplete non-grantor trusts.  By way of background, individuals who live in high tax states and who have significant appreciated assets have used a technique, commonly referred to as a DING trust (Delaware incomplete non-grantor trust).  By structuring the transfer as an incomplete gift to a trust governed by the laws of a state that does not impose a state income tax and usin

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The Insurance Industry Doesn’t Know Fee-Only Fiduciaries Exist; Observations And Attendee Reaction To Bob Keebler’s Webinar About Retirement Income Planning

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Retirement income planning has always focused on reaching a wealth accumulation goal by the time of a client’s retirement date, but managing assets after retirement to maximize income is ultimately what’s most important.   That was the subject of Bob Keebler’s recent webinar session. At a rapid clip, Keebler ticked off pitfalls, problems, and solutions -- why distribution planning is so important, the five-dimensional tax world practitioners must suddenly navigate, the effect of asset allocation on tax minimization and a wide range of other issues.   Because Keeb

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Some Clarity For Same Sex Couples

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The tax laws for same sex couples have been and continue to be confusing.  Yet, for those of us advising these clients, we must be informed and clear on the topic – and that means we need to alert them to the possibility of filing amended tax returns.

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Three Year-End Planning Moves You Must Do This Year

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Tax laws have changed and our clients are facing higher taxes than they’ve had in decades. They don’t understand the ins and outs. So, if they are surprised, they’re going to be looking at you and wondering why you didn’t help them.  Of course, advisors should be applying tax-wise strategies in their clients’ portfolios all during the year.  But, this year – more than ever – advisors need to consider year-end planning.

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