Generally, the terms of note will be Seller driven and the resulting terms must be reasonable and commercially viable. The initial term we would offer would be anywhere from 1 year to 10 years… Seller picks their desired term. The payback structure is very flexible in that the seller could: defer receiving payments for up to a couple of years or so; take a partial … [Read more...] about How Do You Structure Repayment Terms for a Deferred Sales Trust Installment Note
Tax Rules that Apply to Home-to-Rental Conversions
Residential real estate values have fully recovered in many areas, and rental rates are strong. To take advantage of this favorable situation, consider buying a new residence and converting your current home into a rental property that you can sell later for a higher price. This strategy can be a tax-savvy move, but it's not right for everyone. Here are some important tax issues to … [Read more...] about Tax Rules that Apply to Home-to-Rental Conversions
New Tax Law Provides 10 Key Breaks for Individual Taxpayers
A recent spending package signed into law by President Trump on December 20 retroactively resurrects and/or extends several key tax breaks through 2020. It also provides tax relief for victims of federally declared disasters. Here are ten breaks that can benefit eligible individuals. 1. Reduced Threshold for Medical Expense Deductions The Tax Cuts and Jobs Act (TCJA) set the … [Read more...] about New Tax Law Provides 10 Key Breaks for Individual Taxpayers
Five Payroll Tax Developments for 2020
Along with a new year comes new payroll rules. Here are five highlights: 1. Significant revisions have been made to Form W-4.The IRS redesigned Form W-4, beginning with the 2020 tax year. The form was revised to take into account changes from the Tax Cuts and Jobs Act. That law suspended personal exemptions and substantially increased the standard deduction. The mismatch between the old … [Read more...] about Five Payroll Tax Developments for 2020
Low Tax Rates Provide Opportunity to “Cash Out” with Dividends
Under current tax law, the federal income tax rate for C corporations is a flat 21%. Under prior law, C corporations faced a graduated federal income tax-rate schedule with a maximum effective rate of 35%. The flat 21% corporate tax rate is permanent, unless Congress passes legislation to repeal or modify it. In contrast, the reduced rates for individual taxpayers under the Tax Cuts and Jobs … [Read more...] about Low Tax Rates Provide Opportunity to “Cash Out” with Dividends
Bad News About Self-Created Intangibles
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
New Spending Law Contains Holiday Surprises
On December 20, 2019, President Trump signed into law the annual government spending package, which includes amendments to the tax law, the repeal of certain Affordable Care Act (ACA) taxes and various retirement measures. Here's an overview of key changes that will affect businesses and individual taxpayers. Tax Provisions The Further Consolidated Appropriations Act is … [Read more...] about New Spending Law Contains Holiday Surprises
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?
