Showing 1 to 12 of 12 results
\$14 Million Art Valuation Error Triggers 40% Tax Penalty
The WT Art Partnership's \$26 million charitable deduction claim for a painting was reduced to \$12 million by the Tax Court, resulting in a 40% penalty due to unqualified appraisers, highlighting the stringent valuation rules for art donations.
\$14 Million Art Valuation Error Triggers 40% Tax Penalty
The WT Art Partnership's \$26 million charitable deduction claim for a painting was reduced to \$12 million by the Tax Court, resulting in a 40% penalty due to unqualified appraisers, highlighting the stringent valuation rules for art donations.
Progress
52% Bias Score
OBBA Significantly Increases US Federal Estate Tax Exemption
The "One Big Beautiful Act" raises the US federal estate tax exemption to \$13.99 million per person in 2025, rising to \$15 million in 2026 and adjusted for inflation annually, reducing federal revenue by nearly \$212 billion over the next decade while the tax rate structure remains unchanged.
OBBA Significantly Increases US Federal Estate Tax Exemption
The "One Big Beautiful Act" raises the US federal estate tax exemption to \$13.99 million per person in 2025, rising to \$15 million in 2026 and adjusted for inflation annually, reducing federal revenue by nearly \$212 billion over the next decade while the tax rate structure remains unchanged.
Progress
40% Bias Score
U.S. SMLLC Real Estate Investment: Tax Implications for NRAs
Non-resident aliens (NRAs) using U.S. single-member LLCs (SMLLCs) for real estate face complex tax implications, including a 30% withholding tax on rental income unless a special election is made, FIRPTA taxes on capital gains, and a significant estate tax burden upon death, potentially reaching 40%...
U.S. SMLLC Real Estate Investment: Tax Implications for NRAs
Non-resident aliens (NRAs) using U.S. single-member LLCs (SMLLCs) for real estate face complex tax implications, including a 30% withholding tax on rental income unless a special election is made, FIRPTA taxes on capital gains, and a significant estate tax burden upon death, potentially reaching 40%...
Progress
36% Bias Score
Discrepancy in U.S. Tax Residency Definitions Impacts Tax Liability
U.S. income tax residency uses a substantial presence test based on physical presence, while transfer tax residency depends on domicile, creating different tax obligations for U.S. residents and requiring careful attention to both.
Discrepancy in U.S. Tax Residency Definitions Impacts Tax Liability
U.S. income tax residency uses a substantial presence test based on physical presence, while transfer tax residency depends on domicile, creating different tax obligations for U.S. residents and requiring careful attention to both.
Progress
12% Bias Score
US Tax Code Overhaul Prompts Urgent Estate Planning Adjustments
Proposed changes to the US federal tax code in the 2025 legislative session significantly impact estate and succession planning for wealthy families, prompting immediate action to adapt strategies depending on whether the estate tax is repealed, reduced, or reverts to pre-2018 levels.
US Tax Code Overhaul Prompts Urgent Estate Planning Adjustments
Proposed changes to the US federal tax code in the 2025 legislative session significantly impact estate and succession planning for wealthy families, prompting immediate action to adapt strategies depending on whether the estate tax is repealed, reduced, or reverts to pre-2018 levels.
Progress
64% Bias Score
Nvidia CEO Avoids Billions in Estate Taxes Through Legal Loopholes
Jensen Huang, Nvidia's CEO, employed legal strategies, including trusts and charitable donations, to minimize his family's estate tax liability, potentially avoiding billions in taxes, showcasing how the ultra-wealthy leverage legal loopholes to reduce their tax burden, while government revenue from...
Nvidia CEO Avoids Billions in Estate Taxes Through Legal Loopholes
Jensen Huang, Nvidia's CEO, employed legal strategies, including trusts and charitable donations, to minimize his family's estate tax liability, potentially avoiding billions in taxes, showcasing how the ultra-wealthy leverage legal loopholes to reduce their tax burden, while government revenue from...
Progress
68% Bias Score
Increased Estate Tax Exemption Spurs High-Net-Worth Estate Planning
Starting in 2026, the federal estate tax exemption will rise to \$15 million per person, prompting high-net-worth families to update estate plans; however, many hesitate due to concerns about control and access, overlooking other risks like lawsuits and insufficient liquidity.
Increased Estate Tax Exemption Spurs High-Net-Worth Estate Planning
Starting in 2026, the federal estate tax exemption will rise to \$15 million per person, prompting high-net-worth families to update estate plans; however, many hesitate due to concerns about control and access, overlooking other risks like lawsuits and insufficient liquidity.
Progress
52% Bias Score
OBBA Significantly Raises US Federal Estate Tax Exemption
The One Big Beautiful Act (OBBA) raises the US federal estate tax exemption to $15 million per person in 2026 (indexed annually), impacting a small percentage of estates but reducing federal revenue by $212 billion over a decade, while 12 states and the District of Columbia also have their own estat...
OBBA Significantly Raises US Federal Estate Tax Exemption
The One Big Beautiful Act (OBBA) raises the US federal estate tax exemption to $15 million per person in 2026 (indexed annually), impacting a small percentage of estates but reducing federal revenue by $212 billion over a decade, while 12 states and the District of Columbia also have their own estat...
Progress
44% Bias Score
U.S. Estate Tax Implications for Expatriates: The Tina Turner Case
Tina Turner's 2023 death raises questions about U.S. estate tax implications for expatriates under Section 2801, which could impose a 40% tax on U.S.-source assets; careful estate planning is crucial for minimizing tax liabilities for both the estate and U.S. beneficiaries.
U.S. Estate Tax Implications for Expatriates: The Tina Turner Case
Tina Turner's 2023 death raises questions about U.S. estate tax implications for expatriates under Section 2801, which could impose a 40% tax on U.S.-source assets; careful estate planning is crucial for minimizing tax liabilities for both the estate and U.S. beneficiaries.
Progress
32% Bias Score
Executor Liability for Unpaid Estate Taxes in the U.S.
U.S. estate tax law holds executors personally liable for unpaid estate taxes even without knowledge of the debt; liability for income/gift taxes requires knowledge but also carries significant risk; various IRS forms can mitigate liability.
Executor Liability for Unpaid Estate Taxes in the U.S.
U.S. estate tax law holds executors personally liable for unpaid estate taxes even without knowledge of the debt; liability for income/gift taxes requires knowledge but also carries significant risk; various IRS forms can mitigate liability.
Progress
36% Bias Score
Urgent Estate Planning Action Needed for Widows Before 2025 Tax Law Changes
The 2017 Tax Cuts and Jobs Act temporarily increased the estate and gift tax exemption, set to expire in 2025; widowed individuals must elect portability of their deceased spouse's unused exemption (DSUEA) within five years of death to avoid potential tax liabilities exceeding 40% on estates exceedi...
Urgent Estate Planning Action Needed for Widows Before 2025 Tax Law Changes
The 2017 Tax Cuts and Jobs Act temporarily increased the estate and gift tax exemption, set to expire in 2025; widowed individuals must elect portability of their deceased spouse's unused exemption (DSUEA) within five years of death to avoid potential tax liabilities exceeding 40% on estates exceedi...
Progress
40% Bias Score
Uncertainty Remains on Estate Tax Future Despite Republican Control
With Republicans controlling the White House and Congress, the future of the 2017 Tax Cuts and Jobs Act's $13.61 million estate tax exemption, expiring in 2025, is uncertain, necessitating proactive estate planning given potential budgetary challenges and Senate procedures.
Uncertainty Remains on Estate Tax Future Despite Republican Control
With Republicans controlling the White House and Congress, the future of the 2017 Tax Cuts and Jobs Act's $13.61 million estate tax exemption, expiring in 2025, is uncertain, necessitating proactive estate planning given potential budgetary challenges and Senate procedures.
Progress
32% Bias Score
Showing 1 to 12 of 12 results