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Tales of Hoffman: Postmortem Planning for Actor’s Estate
The tragic death of actor Philip Seymour Hoffman has given us an opportunity to consider his estate planning, with lessons and strategies for the rest of us. Court documents in probate proceedings for...
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Opening a Law Practice? Pay Attention to Tax Issues
You’ve decided to open your own law office and are ready for your clients’ cases, but are you also ready to handle the tax issues that go hand-in-hand with running your own business? Here’s an overview...
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New 529A Accounts for Severely Disabled Individuals
Many are familiar with section 529 college savings accounts, from which tax-free distributions must be used for qualified higher education expenses. The “Achieving a Better Life Experience Act of 2014”...
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Thinking of Becoming an Expat? Watch Out for the Exit Tax
The following is a guest blog post by Jacob Stein, a partner with Klueger & Stein, LLP in Los Angeles. Mr. Stein practices international taxation and structures cross-border business transactions....
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Cupid’s Arrow Strikes Lover in the Wallet
Revenge is a dish best served cold. In a recent case, a disenchanted suitor not only sued to recover gifts he made to his former lover but also reported those gifts to the IRS as income payments! See...
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IRS Left Holding the Bag After Investors Madoff with Millions
How much is a fictitious brokerage account worth, and what happens when it loses value? The IRS and the Tax Court have struggled with issues arising from the Bernie Madoff scandal. The answer may...
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The Times They Are A-Changing (for Estate Planners)
The corporate tax cut is permanent, but most individual provisions of the Tax Cuts and Jobs Act (Pub L 115–97, 131 Stat 2054) are set to expire for tax years beginning after December 31, 2025. These...
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Just Passing Through: New Deduction for Business Income Expires in 2026
Under new IRC §199A, business entity owners may be able to deduct 20 percent of passthrough income. This tax boon, which is set to sunset after December 31, 2025, has many lawyers wondering whether...
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Divorce Is Not Any Easier After Trump’s Tax Cut
The following is a guest post from Ed Lyman, a trial and appellate attorney at Walzer Melcher LLP who handles complex dissolution of marriage and domestic partnerships for high net worth individuals....
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Dog Bites Man: GRAT Property Included in Gross Estate on Grantor’s Death...
The district court decision in Badgley v U.S. (ND Cal, May 17, 2018, No. 17–cv-00877–HSG) 2018 US Dist Lexis 83537 confirms what we have long believed: The value of a grantor retained annuity trust...
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