Go back to blogSecrets of the Self-made
7th Sep 2016
IRS Takes Aim at Common Family Biz Valuation Discounts
Many high net worth families use creatively structured family limited partnerships (FLPs) or family LLCs, including deliberately lapsed shareholder rights, to secure aggressive valuation discounts for tax purposes when transferring the assets via gifts or bequests to heirs. However, the Internal Revenue Service recently released long-awaited proposed changes designed to combat the practice. Advisors may have to help clients adjust.
IRS Grants Sweeping Relief to Retirement Savers Who Miss Rollover Deadline
The Internal Revenue Service has launched a new “self-certification” procedure, making it dramatically easier and cheaper for taxpayers who miss the 60-day deadline for rolling over retirement account money to fix their errors.
Via The Trust Advisor
7 Things Your Estate Planner Wants You to Know Before You Die
Very few people would call estate planning fun, however, planning your estate is a necessity. Before you start the process, here’s what estate planners wish you knew.
Via The Trust Advisor
How to Get Rich by Driving a $5,000 Car
What you drive has a very real effect on your ability to acquire wealth and reach financial independence and the freedom and joy that come with it, says the White Coat Investor. Here’s why.
Johnny Depp’s “Charitable” Divorce Settlement
Did actor Johnny Depp receive a tax benefit by making a direct $7 million payment to his former wife’s charities?