by apexcpas | Jul 4, 2018 | Tax Planning
A family limited partnership can be an effective estate planning tool. However, to be successful in removing future appreciation in value from the estate of a wealthy family member, it is important that the family limited partnership (FLP) meet strict guidelines, both...
by apexcpas | Jul 4, 2018 | Tax Planning
A recent private letter ruling illustrates the dangers inherent in using IRA funds as a source of short-term financing. Normally, you can avoid tax on a distribution from a traditional IRA if you roll the money over to another IRA or other eligible retirement plan...
by apexcpas | Jul 4, 2018 | Tax Planning
If the soaring price of gasoline has not deterred you from purchasing a SUV, you may be able to take advantage of a perhaps unintentional tax break. For a limited time only, the 100 percent bonus depreciation rules allow a complete write-off for the cost of a...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has issued a memorandum describing the penalty framework that will apply to those who voluntarily disclose assets hidden in offshore accounts. The new program is a followup to voluntary disclosure efforts conducted two years ago. Every U.S. citizen who has a...
by apexcpas | Jul 4, 2018 | Tax Planning
The Supreme Court has refused, without comment, to bypass the court of appeals and review a Virginia district court decision that challenges the constitutionality of the Patient Protection and Affordable Care Act. In Virginia ex rel. Cuccinelli v. Sebelius...