Certain self-created intangible assets no longer qualify as capital assets under the Tax Cuts and Jobs Act (TCJA). As a result, these assets no longer qualify for preferential long-term capital gain tax rates when sold in 2018 and beyond. Instead, gains from selling affected intangible assets are taxed at higher ordinary income rates. Affected Taxpayers and … [Read more...] about Bad News About Self-Created Intangibles
Estate Planning Isn’t Just for the Rich and Famous
Nearly everyone should consider updating his or her estate plan. This is smart advice even if you're not currently exposed to the federal estate tax. Year end can be a convenient time to reflect on major life changes and plan for the future, including devising strategies to minimize taxes. Reasons to Review Your Plans For 2019, the unified federal estate and gift tax exemption is $11.4 … [Read more...] about Estate Planning Isn’t Just for the Rich and Famous
Your AmeriEstate Living Trust Provides: Protection for and Appointed Access to Your Digital Assets
Estate Planning and Legislation related to Digital Assets By: Greg Reese, President & CEO AmeriEstate Legal Plan, Inc. Traditionally when we think about the administration of a decedent’s estate, we typically envision a process that focuses on the individual’s tangible personal property and belongings, financial assets, business interests and real estate. However, in the … [Read more...] about Your AmeriEstate Living Trust Provides: Protection for and Appointed Access to Your Digital Assets
What Type of Living Trust Should I Have?
Which is the right Trust for you and your family? One of the key goals of estate and Trust planning is to avoid federal estate taxes. Careful estate planning can eliminate a significant estate tax burden for surviving spouses and their beneficiaries. Any of the Trusts below can be useful tools in preserving an estate's assets. But which Living Trust is right for you? Credit Shelter Trusts (A/B … [Read more...] about What Type of Living Trust Should I Have?
Another Massive Data Breach: How to Help Protect Yourself
The news of another massive online data breach may make you feel powerless to safeguard your financial privacy. But you can take some concrete steps to protect yourself in the aftermath of the recent Capital One case, as well as other breaches. "If you needed yet another nudge to start keeping an eye on your credit report to protect against identity theft, Capital One has delivered it," … [Read more...] about Another Massive Data Breach: How to Help Protect Yourself
Digital Addiction in the Workplace: What Employers Need to Know
The powerful draw of social media, messaging, Internet browsing and related activities on smartphones is hard for many people to resist. As with forms of chemical dependency (alcoholism, for example) the boundary between excessive digital activity and digital activity that's clinically disabling is complex. It revolves around the extent to which the activity impairs a person's ability to … [Read more...] about Digital Addiction in the Workplace: What Employers Need to Know
To Capitalize or Expense: How to Treat Website Costs for Tax Purposes
For most small businesses, having a website is a necessity. But what's the proper tax treatment of the costs to develop a website? Unfortunately, the IRS hasn't yet released any official guidance on these costs. Therefore, you must extend the existing guidance on other subjects to the issue of website development costs. Depreciable Fixed Assets The cost of hardware needed to … [Read more...] about To Capitalize or Expense: How to Treat Website Costs for Tax Purposes
How to Structure a Business Asset Purchase with Taxes in Mind
Taxes are a major consideration in mergers and acquisitions (M&As). The parties generally can structure a business purchase as either: 1. An asset purchase. The buyer can purchase all or some of the assets of the business. 2. A purchase of stock (or another ownership interest). The buyer can purchase the seller's … [Read more...] about How to Structure a Business Asset Purchase with Taxes in Mind
Tax Issues When Winding Up the Estate of a Loved One
When a loved one who was "financially comfortable" passes away, his or her family must deal with the emotional issues that come with the loss — as well as winding up the decedent's financial affairs. Surviving family members are often unprepared for the tax issues that may arise when a loved one dies. Here's some guidance to help you manage important tax and financial considerations … [Read more...] about Tax Issues When Winding Up the Estate of a Loved One
When to Update Your Estate Plan
Estate planning isn't just for the rich and famous. Many people mistakenly think that they don't need an estate plan anymore because of the latest tax law changes. While it's true that the Tax Cuts and Jobs Act (TCJA) provides generous estate tax relief, even for well-to-do families, the need for estate planning has not been eliminated. There are still numerous reasons to develop a … [Read more...] about When to Update Your Estate Plan
