Secrets 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.

Via Wealth Management


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.

Via White Coat Investor

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?

Via Wealth Management

Dedicated DB@ DedicatedDB

Advisors, here’s a quiz to see what you know about charitable giving via #thinkadvisor #charitablegivinghttps://t.co/ElgtSiCbfm

10:53 PM 25 November 2020

Dedicated DB@ DedicatedDB

Learn how this commercial real estate agent who made money during the pandemic grew her retirement savings with a D… https://t.co/n54CvxCPbz

9:15 PM 25 November 2020

Dedicated DB@ DedicatedDB

How Biden’s Tax Proposals Might Sting Wealthy Clients via @FAMagazine #estatetax #weath #taxes https://t.co/YEYtLKJJZC

8:01 PM 25 November 2020

Dedicated DB@ DedicatedDB

Here’s how to become a successful Youtuber in 2021 via @forbes #youtube #selfmade #entreprenuership https://t.co/OIwuePd7jT

6:20 PM 25 November 2020

Dedicated DB@ DedicatedDB

Are you a high-income, small business owner and need tax savings? See how much you can save with our do-it-yourself… https://t.co/aqaeX8UNEL

5:30 PM 25 November 2020

Dedicated DB@ DedicatedDB

Here are 4 Retirement Plans for Entrepreneurs #entrepreneurship #selfmade #definedbenefitplan https://t.co/CinvqTLK7Y

10:30 PM 24 November 2020

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