Gifting property can be a way for one person to shift paying tax on gain, but this does not mean that the gain escapes tax free. Under § 1015, a donor may transfer property to a donee, and...
The Internal Revenue Code and Treasury Regulations are long and complex. Many of these laws apply to and impact your 1040 individual income tax return and must be taken into account when planning for future individual decisions. In...
There are many issues to consider when forming a trust through your estate planning. A couple of the more common issues being the trustee of the trust and creditor protection to the beneficiary of a trust are discussed...
For those who are required to take a minimum required distribution (“RMD”) from an IRA, charitable donations may be the answer. An individual can offset the tax liability from an RMD by making a qualified charitable donation if...
Identity theft can result in tax related issues as well as financial problems, so it is important to respond immediately so that the IRS can correct any fraudulent issues. Depending on whether the taxpayer or IRS discovers the...
