by Leslie Marenco | Dec 12, 2014 | Articles, Gift Tax, Income Tax, IRS
Not many people would view the IRS as a charitable organization, but you might if you plan your gifting appropriately – i.e., in a way that will benefit you on your income and gift taxes. Here are guidelines when gifting to charity or your own family members...
by Leslie Marenco | Nov 11, 2014 | Articles, Income Tax, IRS
The IRS taxes different kinds of income at different rates. Capital gains, such as profits from a stock sale or the sale of investment real estate (1031 exchanges are discussed in another blog post), are generally taxed at a more favorable rate than your salary or...
by Leslie Marenco | Nov 11, 2014 | Articles, Business/ Corporate Law, Income Tax, IRS
Generally, a 1031 exchange (also called a like-kind exchange) is a swap of one business or investment asset for another.In effect, you can change the form of your investment without (as the IRS sees it) cashing out or recognizing a capital gain. That allows your...
by Leslie Marenco | Nov 5, 2014 | Articles, Income Tax, IRS
Heard of FATCA? In this article I will try and simplify this rather complicated subject to make it easier to understand. FATCA—the Foreign Account Tax Compliance Act—is America’s global tax law. It was quietly enacted in 2010, and after a four-year ramp up, it’s...
by Leslie Marenco | Oct 16, 2014 | Articles, Estate Tax, Income Tax, IRAs / 401(k), IRS
Time flies, and the holiday season is already upon us. But pay attention, because if you miss these key financial deadlines you are going to be crying to your CPA when you get hit with substantial penalties or lose the opportunity to take advantage of some smart...
by Leslie Marenco | Sep 2, 2014 | Articles, Asset Protection, Estate Tax, Income Tax
This is a Forbes article by William Baldwin which I found to be extremely helpful and easy to follow. I also agree with his advice…. Some assets are terrific holdings in estates. Go to your grave clutching them. Some are bad for heirs. Play hot potato with them...
