Articles

Tax, Estate, Trust, Real Estate, Business and Corporate Issues

  • Business Succession Planning Still Important in 2018

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    In 2018 under current law, the estate and gift tax is $5.6 million for an individual and $11.2 million for a couple. However, for the closely held business, succession planning for the next generation and continuation of the closely held business is still very important. We have the first detailed plan from the House of […]

  • Loans and Gifting Planning

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    It is not uncommon for parents to make loans to their children. Interestingly, gifting of the loans later on can be beneficial for everyone.  A recent article written by John O. McManus explains how the planning can be accomplished and the proper documentation to achieve the overall success for the family to shift wealth. Why […]

  • What Assets Are Important to Me and My Family?

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    One of the most important things that you should focus on when you meet with your accountant or CPA this tax season is to review which assets now and in the future will be the most important to both you and your family.  Recently, I attended the USC Tax Institute and a nationally known speaker […]

  • Business Succession Planning Still Important in 2017

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    In 2017 under current law, the estate and gift tax is $5.49 million for an individual and $10.98 million for a couple. However, for the closely held business, succession planning for the next generation and continuation of the closely held business is still very important.  The presidential election is now over and I will discuss […]

  • Property Taxes Issues For Commercial Property

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    Property tax increases are a major concern for families and business owners who want their commercial or rental properties to be transferred or passed on to their heirs. I want to explain in this article some of the basic planning considerations of the parent child exclusion amount of $1 million for non-residential property. No matter […]

  • Disposition of Family Residence and Rental Mixed Use

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    One of the more attractive provisions under the Internal Revenue Code (“IRC”) permits the gain from the sale or exchange of property to be excluded from income if, during the five-year period ending on the date of the sale or exchange, such property has been owned and used by the taxpayer as his or her […]

  • Family Trusts and Property Tax Considerations

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    This article discusses the benefit of using the A-B family trust for property tax purposes when a couple owns rental property or properties that exceeds more than $1 million of assessed value for parent child exclusion. Each parent can transfer to their children either during their lifetime or on death up to $1 million of […]

  • Property Taxes and Legacy Planning For Family Residence

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    Last’s month’s article discussed how property tax increases are a major concern for families and business owners who want their commercial or rental properties to be transferred or passed on to their heirs. This is also true for the family residence. I will discuss some of the planning that can be done to avoid property […]

  • Property Taxes and Legacy Planning For Commercial Property

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    Property tax increases are a major concern for families and business owners who want their commercial or rental properties to be transferred or passed on to their heirs. This is also true for the family residence. I will discuss some of the planning that can be done to avoid property tax increases either during a […]

  • Commercial Real Estate Planning for Large Estates

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    I recently have been involved with a couple of different families that have substantial business interest including commercial real estate. The planning for a larger estate is somewhat different than an estate that is not subject to the transfer tax system discussed below. The similarities between a larger estate and an estate not subject to […]