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We often think of Thanksgiving and Giving Tuesday as ushering in the year-end charitable giving season. Year end is not only a time for gratitude, as families gather for the holidays, but also a time to start organizing financially for the close of the calendar year. But year-end giving does not need to be short-term giving. So even as you strive t...

In May 2014, FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), changing the way revenue is recognized. As of January 25, 2017, the FASB has issued ASUs to revise and clarify the guidance on the original Topic 606. In accordance with the core principle of Topic 606, there are five key steps to ...

Taxing bodies in the UK and the United States are taking a closer look at debt-related strategies by hedge funds that are now tax exempt. And as investment strategies become more diverse, this interest by fiscal authorities can only be expected to increase. This paper from PricewaterhouseCoopers explores the potential ramifications for global hedge...

This paper will examine ways to lessen six of the greatest risks to preserving and enjoying multigenerational wealth. These six risks are: concentrating your assets, overspending, overusing leverage, poor tax planning, not attending to liabilities, ignoring family governance

By thinking ahead and paying a long-term capital gain today, an investor can derive a net tax benefit in future years. This research brief from Parametric Portfolio Associates explores the tax-management strategy of realizing such gains in a portfolio of equities and quantifies how much this can add to after-tax performance. The authors evaluate th...

A health and education exclusion trust may offer a way to preserve assets for younger family members and avoid harsh generation-skipping taxes, while still contributing to charity. In this article, Mela Garber of Anchin, Block and Anchin explains how a HEET can be a useful and effective estate planning tool that benefits family and a designated cha...

A health and education exclusion trust may offer a way to preserve assets for younger family members and avoid harsh generation-skipping taxes, while still contributing to charity. In this article, Mela Garber of Anchin, Block and Anchin explains how a HEET can be a useful and effective estate planning tool that benefits family and a designated cha...

Investors are well advised to take into account the interest rate environment when considering wealth transfer options. A new white paper from Fiduciary Trust points out the importance of interest rates in creating trusts, reviewing estate plans and loaning money to family members. The paper then examines three wealth transfer options that work wel...

New tax regulations from the Internal Revenue Service should have companies reviewing their business aircraft ownership structure and operations, according to a report from the law firm Wiley Rein. Depending on how this structure is set up, companies may find themselves subject to federal excise taxes on air transportation beginning January 1.

A limited liability company may seem like the best way to structure private aircraft ownership, organizing finances while shielding other assets from liability, but think again, says Gary Horowitz of Wiley Rein. Using an LLC can lead to a huge tax liability, potential fines by the Federal Aviation Administration and increased personal liability. Th...

Two notices from Withers Worldwide discuss changes to U.S. tax rules in the deferred remuneration area that take effect on 1 January 2009. These rules (found in Sections 409A and 457A of the U.S. tax code) target deferred payments that do not satisfy complex technical requirements, imposing a compliance burden on non-U.S. as well as U.S. employers....

The IRS revenue ruling regarding the deductibility of management fees by limited partners of partnerships that invest in other partnerships tends to target funds of funds. WTAS believes this ruling may have a wider effect on any tiered partnership structure.

Changes in tax law on estates and gifts provide lower valuations, which makes this a good time to focus on estate planning. An advisory from Rothstein Kass offers suggestions on beginning the process as well as pointers on taking advantage of current and proposed tax laws so that families can transfer as large an estate as possible to future genera...

The new administration has turned 2009 into a year of changes in state, gift and income tax laws – and more changes are expected before the year ends. Credit Suisse Securities (USA) provides an update on the extension of the IRA charitable rollover as well as changes to the gift tax annual exclusion, the generation-skipping transfer tax, and family...