We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations. More
Each year, IRA owners age 72 and older must take a required minimum distribution (RMD). The RMD in nearly all cases is calculated using the Uniform Table. Under the Uniform Table, distributions generally start age 72 at approximately 3.7% and increase each year. The RMD must be taken on or before December 31 of each year.
Many IRA owners with significant balances take the RMD during the last quarter of the year. Because many individuals with larger IRAs do not require IRA funds for daily living expenses, delaying an RMD until the end of the year allows for additional tax-free growth in the IRA.
Fortunately, the IRA charitable rollover will qualify to satisfy a donor's RMD. The IRS term for an IRA charitable... More
The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan... View Presentation
Brandon Bigtop loves his truck, which he affectionately named "the Beast." It was a gift for Brandon's 18th birthday. It is painted bright red and is two tons of metal, muscle and noise. Indeed, many... More
Decedent passed away and was survived by Spouse. Decedent's estate (Estate) was not required to file Form 706 under Sec. 6018(a). Estate represents there was an unused portion of Decedent's applicable... More
Charitable solutions can create a steady stream of payments for a donor. Professional advisors may provide guidance on retirement planning, investments, tax strategies and charitable giving. Clients... More
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For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.