When a client asks what amounts a given estate plan might cost or save, and a reliable approximation would require some complex math, you don’t have to say “Let me get back to you on that,” say Amy Albert and Austin Bramwell of Milbank LLP.
A looming 50% decrease in the amount of assets an estate can transfer tax free has created urgency for wealthy families to see about transferring valuable assets — including private company stock — to heirs by the end of 2025, says Eric Clarke of Hanson Bridgett LLP.
Puerto Rico benefits & compensation expert Carlos Gonzalez shares his practical experience with the evaluation of the cybersecurity measures of local financial institutions servicing retirement plans in operation in Puerto Rico.
There is a renewed effort to impose a wealth tax on Americans. Several bills in Congress would tax and redistribute wealth supposedly to benefit the poor and “ensure the wealthy pay their fair share,” in the words of President Joe Biden. The plans hold strong appeal among some politicians who prefer to ignore basic economic realities.
Recent Treasury regulatory proposals for clean energy vehicle and production tax credits should allow continuation of the investment boom in the related industries while implementing provisions toward conservation goals. The guidance is intended to further President Biden’s Investing in America agenda, support U.S. jobs, and bolster energy production and security while reducing energy costs for American consumers.
If a tax-exempt client needs a professional valuation of an asset, your understanding of how the IRS is going to regard the valuation — and the professional providing it — will be critical in ensuring the benefit of this action.
While the risk of recapture of tax credits in the renewable energy market is a major concern to many investors, it is highly manageable.
A new IRS final rule affecting domestically controlled real estate investment trusts may significantly limit their use and thereby make U.S. real property less attractive for foreign investors.
Emmanuel Sala has joined Baker McKenzie’s North American tax practice as a partner in its Toronto office, the firm said Thursday.
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