Financial Legacy Review


Tap to Call


Changes to Retirement Savings Rules (Mar. 5, 2020) – Wealth Strategies Journal

Mar 7, 2020

Paul S. Labiner

Paul Labiner


SECURE Act changes rules to encourage retirement savings: By Dave Strausfeld, J.D.
The recently enacted Setting Every Community Up for Retirement Enhancement Act of 2019 modifies some rules for retirement accounts and employer plans. Supreme Court overturns consolidated group tax refund allocation rule: The U.S. Supreme Court struck down the Bob Richards rule for allocating tax refunds among members of a consolidated group, holding that state law is well equipped to decide the matter.Optimal choice of entity for the QBI deduction: By Beth Y. Vermeer, CPA, Ph.D.; Brian R. Greenstein, Ph.D.; and Mark B. Persellin, CPA, Ph.D.
The Sec. 199A qualified business income deduction adds a new consideration to the form of entity analysis because the deduction available to a business owner may vary depending on a business’s entity form. Find out the differences in calculating the deduction for S corporations and LLCs in a variety of scenarios. Seize the increased basic exclusion amount: By Erin N. Thompson, CPA
Those in a position to make larger gifts have an opportunity to seize the increased basic exclusion amount before it expires, but don’t forget some long-standing gift planning strategies, such as taking advantage of the annual gift exclusion. Crime doesn’t pay — and may be taxable under Subpart F: By Nelson Yates, J.D., LL.M.
Certain Code provisions penalize the U.S. parent of a controlled foreign corporation where it paid a bribe to a government official and, had that bribe been paid directly by the U.S. parent, the payment would have violated the Foreign Corrupt Practices Act, by causing the payment to be immediately taxable to the U.S. parent. Cafeteria plan compliance: By Linda Franks, CPA
The choices for employees under cafeteria plans can be many, but the recipes for employers are exact. As a result, many small businesses have not applied the rules properly, making benefits that should be tax free to employees taxable.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..

Like this:

Like Loading…

Published by lsaret

View all posts by lsaret


Source link

*We promise to keep your information safe. You can unsubscribe at any time.


In Case You Missed It...

Check out these other great and informative articles on estate planning, wills and trusts, wealth preservation, and more.

expiring tax provisions 2020

33 Federal Tax Provisions Expiring at the End of 2020

When Congress makes changes to the federal tax code, they have a choice as to whether those changes will be implemented permanently or temporarily....
risk and reward

Making High Stakes Tax Planning Decisions in Highly Uncertain Times

As 2020 winds down, many individuals and families are still unsure about what end-of-year tax and estate planning measures they should implement....
2020 estate planning action items

Free Resource: 2020 End-of-Year Planning Checklist

As 2020 draws to a close, many wealthy individuals and families should be thinking about their end-of-year tax and estate planning opportunities....
revocable trust planning

Trust Planning Basics: What Is a Revocable Trust?

Incorporating trusts into a comprehensive estate plan greatly expands a family’s or individual’s options regarding tax mitigation, asset protection,...
importance of titling assets

How Titling of Assets Impacts Your Estate Plan

Very few people give the attention to asset titling that it deserves. And yet, how your assets are titled has huge implications on the transfer of...
what is elder mediation

How Can Elder Mediation Help Me and My Family?

Recently, my son, Brandon Labiner, who works as Of Counsel at my law firm, became certified as an elder mediator. Of this, I am very proud. Because...
Florida pet trusts

What Is a Pet Trust & Do I Need One?

We all love our furry little friends. Pets provide companionship, love, assistance, and joy. In fact, personally, we treat our two dogs just like...
basic estate planning documents

Your Five Basic Estate Planning Documents

If this is your first foray into the estate planning world, it can be difficult to know where to start and what documents are essential to crafting...
end of year 2020 tax planning

Making the Most of Your End-of-Year Tax Planning

The presentation below outlines some of the most important tax policy proposals of the Joe Biden campaign. While not all of these proposals will be...
estate planning for future presidents

Estate Planning Strategies during an Election Year

This month on "Ask the Experts," I dove into the current and potential future landscape of estate planning as we approach the November presidential...

Pin It on Pinterest

Share This