■ Doctor Protection. Whatever happens with the estate tax, most physicians are more worried about malpractice then they are the estate tax (and they don’t love the estate tax!). Doc can set up a self settled trust in any jurisdiction permitting it and remain a beneficiary at the discretion of the independent trustee. There are…
When we were kids we’d take turns twisting each other’s arm’s until someone screamed “uncle.” Accountants across the country are screaming “Uncle” as in “Uncle Sam” as they continue to get barraged by new tax rules and related changes, court cases and other developments. The following tidbits are barely a drop in the proverbial bucket…
Your CPA is having a tough year. Here are steps you can take to increase the likelihood of an IRS audit of an estate tax return and the cost of handling the audit. Go ahead, help your CPA fund his kids’ 529 plans. While some of the items below might seem odd or silly, according…
Recent tax changes add an excise tax on high-cost employer-sponsored health coverage (often referred to as “Cadillac” health plans). This is a 40% non-deductible excise tax on insurance companies, based on premiums that exceed certain amounts. Ouch! The tax is not on employers themselves unless they are self-funded. However, it is expected that employers and…