Revenue Ruling 2023-2

Equity Strip

Revenue Ruling 2023-2 is Nothing New The IRS ruled in Revenue Ruling 2023-2 that assets in an irrevocable trust outside the taxable estate of the grantor, do NOT get a step up in cost basis when the grantor dies. Although this ruling has received some attention and disagreement in the media, it is nothing new…

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CHARITABLE PLANNING: A FORK IN THE ROAD

You may decide to do charitable planning for several reasons. Some people do it because they want to give back to the community. Some just want a tax deduction. Others don’t have any heirs, and they want a low risk method to ensure they have enough money until they die. Whatever the reason, charitable planning…

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Estate Planning for Hyper Inflation

Estate Planning for Hyper Inflation

Hyper Inflation Planning for inflation is challenging.  Inflation is a tricky monster.  It creates the illusion of an increase in value.  When prices go up, things are worth more.  Right?  Wrong!  With inflation, prices go up, but value remains the same.  In reality, inflationary price increases mean the currency is worth less.  Inflation means that…

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Looking Through the Corporate Veil

Looking Through the Corporate Veil Many of our clients have been complaining in recent years that banking has become more difficult.  Opening a business bank account used to be a simple process.  Now it is extremely difficult, and sometimes impossible. The politicians have enhanced the LLC and Corporation Disclosure Requirements.  It is now necessary for…

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