Taxes

IRS Rules that Bitcoins are Not Money

One of the main principles of modern currency is that it must be “fungible” to be considered as money, which means that one unit, say a $100 bill, is able to replace or be replaced by any other $100 bill; that the two are, in essence, identical and mutually interchangeable. Based on that fact, the…

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New IRS Tax Laws Increase Many Trusts' Tax Bills

We recently discussed changes proposed in President Obama’s 2015 budget that would modify Estate and Gift Tax provisions established in the American Taxpayer Relief Act or ATRA, which was passed by Congress in 2013. The proposal, which would take effect in 2018, would restore the Estate, Gift, and Generation-Skipping Transfer (GST) tax rates and parameters…

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Save tax by locking in family loans before October 1

Educate Heirs

If your children also own shares, either directly or through a family trust, the number of exemptions available potentially increases. To be able to claim the exemption, however, the shareholder must own the qualifying shares for at least two years … Read more: Save tax by locking in family loans before October 1

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Save tax by locking in family loans before October 1

Educate Heirs

If your children also own shares, either directly or through a family trust, the number of exemptions available potentially increases. To be able to claim the exemption, however, the shareholder must own the qualifying shares for at least two years … Read more: Save tax by locking in family loans before October 1

Read More