by Arthur Geffen | Jul 13, 2022 | IDGT
An intentionally defective grantor trust, or IDGT, is a way of shifting tax burdens for very wealthy households. With this structure, you can create a trust that leaves wealth to your heirs while minimizing gift, estate and income tax liability. Find out how the IDGT...
by Arthur Geffen | Jul 12, 2022 | Estate Tax
he IRS issued a revenue procedure (Rev. Proc. 2022-32) Friday that allows estates to elect “portability” of a deceased spousal unused exclusion (DSUE) amount as much as five years after the decedent’s date of death. Estates of decedents dying after...
by Arthur Geffen | Jun 28, 2022 | Income Tax
After a loved one passes away, the person in charge of settling the deceased’s estate is responsible for filing a final individual income tax return and the estate tax return when due. According to the IRS, you will need to file Form 56, Notice...
by Arthur Geffen | Jun 27, 2022 | Income Tax, Independent Contractor
What Is an Independent Contractor? An independent contractor is a self-employed person or small business owner who performs services for another person or entity. Independent contractors aren’t employees of the people or businesses they provide services for. They may...
by Arthur Geffen | Jun 27, 2022 | IRS, Tax
Taxpayers who would rather crawl through broken glass than call the IRS about an amended return got some cheery news last week: More tax forms can now be amended electronically. See: ...
