Saturday, October 15, 2016
Friday, October 14, 2016
Funniest Joke I Ever Heard 1984 George Burns - YouTube
https://www.youtube.com/watch?v=3IiICcSH8iY
Jimmy Stewart if I die wouls you remarry---would you let her use my gold clubs?No, she's left handed
Funniest Joke I Ever Heard 1984 George Burns - YouTube
https://www.youtube.com/watch?v=cQLv7CG10B4 rodney dangerfield
Jimmy Stewart if I die wouls you remarry---would you let her use my gold clubs?No, she's left handed
Funniest Joke I Ever Heard 1984 George Burns - YouTube
https://www.youtube.com/watch?v=cQLv7CG10B4 rodney dangerfield
Dunlap 101!! - YouTube
Dunlap 101!! - YouTube
Powder on da gurlz.
Oh dear.
Thanks for da mammaries.
Ah recipe for stank!
This woman is a national treasure!
Powder on da gurlz.
Oh dear.
Thanks for da mammaries.
Ah recipe for stank!
This woman is a national treasure!
Dunlap 101!! - YouTube
Dunlap 101!! - YouTube
Powder on da gurlz.
Oh dear.
Thanks for da mammaries.
Ah recipe for stank!
This woman is a national treasure!
Powder on da gurlz.
Oh dear.
Thanks for da mammaries.
Ah recipe for stank!
This woman is a national treasure!
Wednesday, October 12, 2016
Tuesday, October 11, 2016
Monday, October 10, 2016
Estate Freeze Strategy: Minimizing Estate & Gift Taxes - Financial Web
Estate Freeze Strategy: Minimizing Estate & Gift Taxes - Financial Web:
Estate Freeze Strategy: Minimizing Estate & Gift Taxes
Using an estate freeze strategy can help you minimize estate and gift taxes. The basic idea behind using an estate freeze strategy is to minimize estate taxes or gift taxes. If you simply give all of your estate to your beneficiaries before you die, you will most likely incur gift taxes for total amount. If you just try to pass your estate onto your beneficiaries when you die without making any preparations, your beneficiaries could have to pay estate taxes. With the estate freeze strategy, you will use a variety of tactics in order to try to eliminate the taxes that your beneficiaries will have to pay.
Stock
If you own a substantial amount of stock, you can utilize the estate freeze strategy to transfer the stock to your beneficiaries. With this method, you are going to exchange your common stock for preferred stock with the company that issued it. The company will then give shares of common stock to your beneficiaries. Since you are trading common stock for preferred stock, you will not have to pay any capital gains taxes on this exchange. The preferred stock is not going to increase in value from that point, so you will not have to worry about capital gains taxes in the future. Your beneficiaries will receive common stock and they will be able to benefit from the growth of the stock in the future.
Trust
You might also choose to set up an irrevocable trust to utilize an estate freeze strategy. With this type of trust, you will move all of your assets into the ownership of the trust. When you do this, you will not have to pay any gift taxes personally. Then, whenever you pass away, the assets inside the trust can be passed onto your beneficiaries without incurring additional taxes. Make sure that the trust is irrevocable, because assets in a revocable trust will count towards your total estate value.
Family Limited Partnership
Another tool that you can use is called a family limited partnership. You can put assets into the ownership of the partnership. You will name yourself as the general partner and your beneficiaries as limited partners. You will then be able to decrease your ownership in the partnership to 1 percent. The limited partners will then have 99 percent ownership in the partnership and all of the assets in it. Another benefit of utilizing this strategy is that the assets in the family limited partnership will not be available to creditors in the future. This will help protect your assets and it will allow you to pass them onto your beneficiaries without worrying about paying excessive estate or gift taxes.
Estate Freeze Strategy: Minimizing Estate & Gift Taxes
Using an estate freeze strategy can help you minimize estate and gift taxes. The basic idea behind using an estate freeze strategy is to minimize estate taxes or gift taxes. If you simply give all of your estate to your beneficiaries before you die, you will most likely incur gift taxes for total amount. If you just try to pass your estate onto your beneficiaries when you die without making any preparations, your beneficiaries could have to pay estate taxes. With the estate freeze strategy, you will use a variety of tactics in order to try to eliminate the taxes that your beneficiaries will have to pay.
Stock
If you own a substantial amount of stock, you can utilize the estate freeze strategy to transfer the stock to your beneficiaries. With this method, you are going to exchange your common stock for preferred stock with the company that issued it. The company will then give shares of common stock to your beneficiaries. Since you are trading common stock for preferred stock, you will not have to pay any capital gains taxes on this exchange. The preferred stock is not going to increase in value from that point, so you will not have to worry about capital gains taxes in the future. Your beneficiaries will receive common stock and they will be able to benefit from the growth of the stock in the future.
Trust
You might also choose to set up an irrevocable trust to utilize an estate freeze strategy. With this type of trust, you will move all of your assets into the ownership of the trust. When you do this, you will not have to pay any gift taxes personally. Then, whenever you pass away, the assets inside the trust can be passed onto your beneficiaries without incurring additional taxes. Make sure that the trust is irrevocable, because assets in a revocable trust will count towards your total estate value.
Family Limited Partnership
Another tool that you can use is called a family limited partnership. You can put assets into the ownership of the partnership. You will name yourself as the general partner and your beneficiaries as limited partners. You will then be able to decrease your ownership in the partnership to 1 percent. The limited partners will then have 99 percent ownership in the partnership and all of the assets in it. Another benefit of utilizing this strategy is that the assets in the family limited partnership will not be available to creditors in the future. This will help protect your assets and it will allow you to pass them onto your beneficiaries without worrying about paying excessive estate or gift taxes.
Different Types of Gift Loans and How They Work - Financial Web
Different Types of Gift Loans and How They Work - Financial Web:
Different Types of Gift Loans and How They Work
Gift loans are defined as below-market or no-interest-rate loans made to either friends or family members. The most typical gift loans are made between parents and children. In the past, these loans were often used as an income tax strategy to reduce taxes. For example, higher-income parents would use these arrangements to shift income to their children, who often were in lower tax brackets. However, recent IRS rulings have curtailed the ability to shift income in this manner.
Types of Gift Loans
Gift loans generally fall into two categories. First, there are demand loans. As the name suggests, these loans are due at any time. In effect, a demand loan is due and payable whenever the borrower demands repayment. Therefore, a demand loan has no prearranged repayment schedule.
By contrast, the other type of gift loan does have a specific repayment schedule based on a certain period. Therefore, it is known as a term loan. A term loan is due and payable according the terms of the prearranged agreement.
How They Work
By definition, gift loans are no- or low-interest-rate loans. Therefore, the loan is not actually considered a gift. However, in the case of no-interest-rate loans, the interest is considered a gift. For low-interest loans, the difference between the prevailing market rate and what the lender actually charges is also considered a gift. As mentioned earlier, recent tax laws have limited some of the tax advantages to lenders. This was accomplished by a concept called imputed income and dollar limitations.
Tax Implications
Imputed income means that the “gift" in these types of loan arrangements can be considered taxable income at the end of year in certain instances. Although the lender does not actually receive interest payments, the amount the lender would have received is “imputed” or deemed received. For tax purposes, the borrower would also be deemed to have paid the interest. Therefore, the lender may be required to report the imputed income for tax purposes. If allowed, the borrower may also qualify for a tax deduction for the imputed income.
Gift loans for $10,000 or less are exempt from imputed income as long as the proceeds are not used for investment purposes. When gift loans are made for investment purposes, the amount of investment income the borrower has is used to determine if there will be imputed income. If the borrower has $1,000 or less in investment income and the loan amount is not more than $100,000, then there is no imputed income. If the borrower has more than $1,000 in investment income, then�there is imputed income. However, the amount of imputed income is capped by the actual amount of the borrower’s investment income. For example, Smith makes Jones a $100,000 interest-free loan. Jones invests the $100,000 and has $1,500 in investment income. The imputed income is this situation would be $1,500. If Jones had $1,000 in investment income, the imputed income would be zero.
Different Types of Gift Loans and How They Work
Gift loans are defined as below-market or no-interest-rate loans made to either friends or family members. The most typical gift loans are made between parents and children. In the past, these loans were often used as an income tax strategy to reduce taxes. For example, higher-income parents would use these arrangements to shift income to their children, who often were in lower tax brackets. However, recent IRS rulings have curtailed the ability to shift income in this manner.
Types of Gift Loans
Gift loans generally fall into two categories. First, there are demand loans. As the name suggests, these loans are due at any time. In effect, a demand loan is due and payable whenever the borrower demands repayment. Therefore, a demand loan has no prearranged repayment schedule.
By contrast, the other type of gift loan does have a specific repayment schedule based on a certain period. Therefore, it is known as a term loan. A term loan is due and payable according the terms of the prearranged agreement.
How They Work
By definition, gift loans are no- or low-interest-rate loans. Therefore, the loan is not actually considered a gift. However, in the case of no-interest-rate loans, the interest is considered a gift. For low-interest loans, the difference between the prevailing market rate and what the lender actually charges is also considered a gift. As mentioned earlier, recent tax laws have limited some of the tax advantages to lenders. This was accomplished by a concept called imputed income and dollar limitations.
Tax Implications
Imputed income means that the “gift" in these types of loan arrangements can be considered taxable income at the end of year in certain instances. Although the lender does not actually receive interest payments, the amount the lender would have received is “imputed” or deemed received. For tax purposes, the borrower would also be deemed to have paid the interest. Therefore, the lender may be required to report the imputed income for tax purposes. If allowed, the borrower may also qualify for a tax deduction for the imputed income.
Gift loans for $10,000 or less are exempt from imputed income as long as the proceeds are not used for investment purposes. When gift loans are made for investment purposes, the amount of investment income the borrower has is used to determine if there will be imputed income. If the borrower has $1,000 or less in investment income and the loan amount is not more than $100,000, then there is no imputed income. If the borrower has more than $1,000 in investment income, then�there is imputed income. However, the amount of imputed income is capped by the actual amount of the borrower’s investment income. For example, Smith makes Jones a $100,000 interest-free loan. Jones invests the $100,000 and has $1,500 in investment income. The imputed income is this situation would be $1,500. If Jones had $1,000 in investment income, the imputed income would be zero.
Inter Vivos Giving - Financial Web
Inter Vivos Giving - Financial Web:
Loan gift info
Inter Vivos Giving
Many people simplify their estate planning by giving away portions of their property during their lifetime, which is referred to in law as inter vivos giving. The Latin term "inter vivos" means during one's lifetime. This form of giving can be a very shrewd financial move that serves a number purposes, including reducing or avoiding estate taxes, ensuring that your property goes to those that you want to receive it, and increasing your eligibility for government assistance should you become incapacitated by age or illness. Inter vivos gifts can also provide tax benefits during your lifetime.
According to the IRS, any person may give any other person a gift with a total value of up to $12,000 (as of 2006) in one year without being subject to the federal gift tax. Therefore, if you desire to distribute your estate among different individuals, a wisely planned inter vivos gift-giving strategy can actually transfer a quite substantial amount every year. For example, two parents of four children may transfer $12,000 to each of the four children each year. If all of the children are married and the respective gift is made to each child and his or her spouse, the value of the gift can reach up to $24,000, since $12,000 may be given to each individual. So, if the four children are married, the parents could transfer up to $96,000 per year in assets to their children and sons- and daughters-in-law.
As an additional example, a man who owns a house valued at $60,000 may transfer the deed to the home to his son, and then take back a mortgage on the property. In other words, he has loaned his son the money to buy the house. Now, for each of the five years following the deed transfer, he can "forgive" $12,000 owed on the mortgage. At the end of five years, the title to the house will be legally vested in the daughter, and the father will have avoided the gift tax because he actually only gave his son $12,000 per year.
Caution, however, must be exercised. In calculating federal estate taxes, the value of any nonexempt gift (an amount over and above the exemption) completed at any time during your life, minus any gift tax paid on it, must be included in the total value of your estate when you die. Therefore, if you plan to give someone a gift worth more than $12,000, it would be wise to seek the advice of a tax accountant or other professional in order to gain a clear understanding of how it could impact both your present gift-tax obligations as well as your future estate-tax bill.
In addition to the $12,000 annual exclusion for gifts, other tax exemptions may apply in certain circumstances. For example, gifts made to your spouse or a charitable organization, tuition paid directly to a student's school, or medical expenses paid directly to a patient's doctor or hospital are generally exempt from gift tax. There are, of course, some limitations. Furthermore, a gift that is considered "incomplete" under the law is not taxable. In other words, if you retain the right to have the property eventually returned to you or the right to name other people to share in the gift, the gift is not complete and therefore not subject to tax.
Loan gift info
Inter Vivos Giving
Many people simplify their estate planning by giving away portions of their property during their lifetime, which is referred to in law as inter vivos giving. The Latin term "inter vivos" means during one's lifetime. This form of giving can be a very shrewd financial move that serves a number purposes, including reducing or avoiding estate taxes, ensuring that your property goes to those that you want to receive it, and increasing your eligibility for government assistance should you become incapacitated by age or illness. Inter vivos gifts can also provide tax benefits during your lifetime.
According to the IRS, any person may give any other person a gift with a total value of up to $12,000 (as of 2006) in one year without being subject to the federal gift tax. Therefore, if you desire to distribute your estate among different individuals, a wisely planned inter vivos gift-giving strategy can actually transfer a quite substantial amount every year. For example, two parents of four children may transfer $12,000 to each of the four children each year. If all of the children are married and the respective gift is made to each child and his or her spouse, the value of the gift can reach up to $24,000, since $12,000 may be given to each individual. So, if the four children are married, the parents could transfer up to $96,000 per year in assets to their children and sons- and daughters-in-law.
As an additional example, a man who owns a house valued at $60,000 may transfer the deed to the home to his son, and then take back a mortgage on the property. In other words, he has loaned his son the money to buy the house. Now, for each of the five years following the deed transfer, he can "forgive" $12,000 owed on the mortgage. At the end of five years, the title to the house will be legally vested in the daughter, and the father will have avoided the gift tax because he actually only gave his son $12,000 per year.
Caution, however, must be exercised. In calculating federal estate taxes, the value of any nonexempt gift (an amount over and above the exemption) completed at any time during your life, minus any gift tax paid on it, must be included in the total value of your estate when you die. Therefore, if you plan to give someone a gift worth more than $12,000, it would be wise to seek the advice of a tax accountant or other professional in order to gain a clear understanding of how it could impact both your present gift-tax obligations as well as your future estate-tax bill.
In addition to the $12,000 annual exclusion for gifts, other tax exemptions may apply in certain circumstances. For example, gifts made to your spouse or a charitable organization, tuition paid directly to a student's school, or medical expenses paid directly to a patient's doctor or hospital are generally exempt from gift tax. There are, of course, some limitations. Furthermore, a gift that is considered "incomplete" under the law is not taxable. In other words, if you retain the right to have the property eventually returned to you or the right to name other people to share in the gift, the gift is not complete and therefore not subject to tax.
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