Life InsuranceAssignmentEstate TaxInsuranceThe Taxpayer Relief Act of 1997 furnishes the courts and the Internal Revenue Service an opportunity to close certain loopholes in the federal tax consequences of assigning life insurance. About twenty years ago, we published an article arguing that the tax ...
A) Why is it important to understand the tax consequences of your financial decisions? B) What are FICA taxes and who pays FICA? Describe the two portions of FICA and explain what they pay for. Explain how whole life insur...
Another change made by the 2005 Act is the amendment of B.C. Section 1125(a)(1) to provide that adequate information in a chapter 11 disclosure statement requires the discussion of the material federal tax consequences of the plan. The authors argue that this change should not be interpreted...
Generally, the tax consequences are the same whether or not the home office deduction was previously claimed. Gain on the office or rental portion generally qualifies as part of the $250,000/$500,000 capital gains tax exclusion for a primary home sale, subject to two exceptions. The first i...
If you had six allowances last year, you probably shouldn’t reduce it to 0 this year. Doing so may have unintended consequences. Make small changes based on your current tax situation. Tax Fraud Tax fraudis a growing crime. Discovering you’re a victim of tax fraud often occurs when you...
Tax laws are full of unintended consequences. That became painfully clear during the COVID-19 pandemic, when a variety of tax relief provisions were created to help individuals and businesses deal with the virus' economic effects. Such was the case with the Employee Retention Credit, or ERC. ...
The total effect of the TCJA’s corporate provisions on tax revenue combines two forces: (i) the static revenue effect of the tax changes holding the capital stock fixed, and (ii) the revenue consequences of the dynamic changes in capital induced by the law. …). The solid red line in...
aWhen the only hope of return on a real estate investment is from the favorable tax consequences or “potential appreciation” it is very likely that the property is overpriced. 当回归唯一的希望在一种不动产的投资是从有利税收结果或时“潜在的欣赏”它是非常可能的物产定价过高。 [translate] ...
Retirement. The word sounds so good to so many people because of what it implies: a life of leisure, free of the daily grind of workdays that last at least eight or nine hours and as many as 10 or 12 if you are unlucky. But there is one thing from which
Part of the Series Federal Income Tax Guide Maskot / Getty Images It’s easy to get caught up in choosing investments and forget about the tax consequences—particularly, the capital gains tax. After all, picking the right stock or mutual fund can be challenging enough without worrying aboutaft...