Personal Financial Planning

Topics

December 1, 2021

Planning with charitable lead trusts

Today’s low interest rates make charitable lead trusts a more powerful option for tax-efficient estate planning.

December 1, 2021

Cryptoassets: What to keep in mind in 2022

This article discusses four things for financial and tax advisers to keep in mind when working with clients holding cryptoassets.

December 1, 2021

Importance of purchase price allocation in real estate transactions

In a year when real estate prices are soaring in many areas of the country, these easily overlooked allocations can have a significant tax impact.

November 18, 2021

Investors are (legally) shielding crypto gains in opportunity zones

The opportunity zone program offers a solution for deferring gains and allows investors to diversify into real estate or operating businesses.

November 11, 2021

Helping a client benefit from an intentionally defective grantor trust

These trusts can be advantageous to wealthier clients, but their future use in estate planning is threatened by current legislative proposals.

November 4, 2021

IRS makes retirement account inflation adjustments for 2022

The IRS issued the adjusted ceilings, thresholds, and limitations for various retirement plans and individual retirement accounts for 2022.

November 4, 2021

Using donor-advised funds in 2021 (and beyond)

Donor-advised funds have increased in popularity because of recent legislative changes that affect charitable giving.

November 1, 2021

Recent developments in estate planning: Part 2

This second part of an annual update examining developments in estate, trust, and gift taxation covers recent court cases, proposed regulations, and other IRS guidance on estate tax.

November 1, 2021

The grantor trust rules: An exploited mismatch

This article discusses the history of the grantor trust rules, how they are exploited to avoid taxes, and ways the rules might be reformed to prevent them from being used for tax avoidance.

October 28, 2021

Finding the right capital gains tax strategy for your client

With potential tax hikes looming, CPAs can help clients manage capital gains taxes with the right strategy.

September 1, 2021

Individual tax update

This semiannual update surveys recent federal tax developments involving individuals.

September 1, 2021

Replacing your ‘how’ with a ‘why’ approach to PFP services

You must know why your clients are seeking your advice before building a financial plan that fits their needs.

August 1, 2021

Commercial real estate: Debt restructuring and planning

As many companies continue to work remotely and demand for office space dries up, landlords and banks may be forced to renegotiate debt agreements or foreclose on assets, which could have significant tax consequences.

July 1, 2021

ARPA expands tax credits for families

The American Rescue Plan Act made significant changes to the child tax credit and child and dependent care credit for the 2021 tax year, making the credits larger for most taxpayers and more widely available.

July 1, 2021

Sorting the tax consequences of settlements and judgments

This article discusses issues taxpayers should consider during a litigation or arbitration process.

July 1, 2021

ARPA-adjusted 2021 individual credit amounts set

The IRS issued guidance on the amount of and limitations on the child tax credit, earned income tax credit, and premium tax credit available for taxpayers for the 2021 tax year.

July 1, 2021

Taxation of qualified tuition plan contributions and distributions

Taxpayers can avoid unplanned taxes and penalties by carefully following rules for contributions to and
distributions from tax-favored education savings vehicles and making sure distributed funds are used for “qualified higher education expenses.”

June 1, 2021

Planning considerations for cross-border compensatory equity

Compensatory equity, such as company stock, held by employees that was acquired in connection with the performance of services may result in unexpected issues.

June 1, 2021

Planning with revocable trusts after the grantor’s death

This article focuses on the key tax and reporting areas applicable to revocable trusts and the associated planning and pitfalls that arise at the grantor’s death.

June 1, 2021

Using a family LLC for estate planning

LLCs can help families achieve key business and
tax objectives, while also providing liability protection and concentrating management power in
the hands of less than all of the owners.