Protect Your Assets with a Private Retirement Plan

by Bruce Givner on February 26, 2015

The following post was taken from our February 2015 newsletter. Click here to subscribe to our monthly newsletter. Most people will not spend a penny today to put a hurdle between their valuable assets and some currently unknown, but possible, future creditor*.  So what happens is people come to us when there is already a problem.  […]

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Terminated QPRTs Result In Interesting Opportunities

by Bruce Givner on February 24, 2015

The following post was taken from our Feburary 2015 newsletter. Click here to subscribe to our monthly newsletter Over the past almost four decades we have helped hundreds of families implement qualified personal residence trusts.  The purpose of a QPRT, as originally designed by Congress, was to allow the parents to pass the equity in the […]

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FATCA in Israel: Banks Demand Declarations

by Bruce Givner on February 19, 2015

In a move that was not well-publicized but widely expected, Israeli banks are now asking their new business customers to complete forms declaring whether they are incorporated in the US or whether any of their company shareholders or related entities are US citizens or residents in compliance with the American regulations. The detailed forms are […]

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Pressure Grows On Senate to Pass Tax Treaties

by Bruce Givner on February 17, 2015

At a meeting in Houston of the American Bar Association Section of Taxation, the senior counsel in the Treasury’s Office of International Tax Counsel, Douglas Poms, urged taxpayers and those in the business community to ratchet up the pressure on their senators to start ratifying several tax treaties that have been held up. “It would […]

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IRS Withholding Refunds for Victims of Tax Preparer Fraud

by Bruce Givner on February 12, 2015

Victims of tax preparer fraud, whose preparers filed their taxes and then took the return for themselves, have yet to receive their refunds from the Internal Revenue Service (IRS) partly due to the agency’s concerns of collusion, according to a senior attorney from the National Taxpayer Advocate. Some of these victims have been waiting since […]

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IRS OVDP Program to Remain Open Indefinitely

by Bruce Givner on February 10, 2015

In a January 28 news release, the Internal Revenue Service (IRS) said that the agency’s Offshore Voluntary Disclosure Program (OVDP) will remain available to taxpayers until further notice. The indefinite extension of the program comes as the IRS continues its efforts to crack down on offshore tax evasion. The OVDP was established to allow taxpayers […]

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The IRS ‘Dirty Dozen” Scams for Tax Season: Phishing

by Bruce Givner on February 5, 2015

In a news release published on January 23, the Internal Revenue Service (IRS) warned taxpayers to watch out for fake e-mails or websites claiming to be the IRS or a related organization, as they will try to steal your personal and financial information. Commonly referred to as “phishing” this scam attempts to “lure in potential […]

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The following post was taken from our November 2014 newsletter. Click here to subscribe to our monthly newsletter. What if you have already established an irrevocable trust that you do not like?  What if the irrevocable trust was not established to be flexible as described in the opening part of this Newsletter?  Are there still […]

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Selling Your Business? Avoid State & Federal Taxes

by Bruce Givner on January 29, 2015

This post was taken from our December 2014 newsletter. Click here to subscribe to our monthly newsletter. Are you planning on selling your business in several years?  Wouldn’t it be nice to not pay the state and federal taxes on the sale? Well, the time to plan is now, more than 2 years before the […]

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Transitioning from LLCs to Limited Partnerships

by Bruce Givner on January 27, 2015

The following post was taken from our January newsletter. Click here to subscribe to our newsletter. We have previously written to you about the problem that limited liability companies have with creditor protection after the January 1, 2014, enactment of the California Revised Uniform Limited Liability Company Act.  That problem is that, in a lawsuit […]

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