On July 19, 2016 we posted Time to Compare Candidate's Tax Plans! where we discussed both the Clinton Tax Plan and the Trump Tax Plan. Now with that the Donald is President-Elect, what does that mean for Tax Advisers? Donald Trump has proposed tax reforms that would significantly reduce marginal tax rates for both…
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10 States That Provide the Most Protections for Dynasty Trusts
According to Private Wealth magazine, Protecting wealth for future generations is often the goal for those who have been financially successful in life. A wealthy family founding father (or mother) can create a dynasty trust which is a long-term trust that can last varying amounts of time, depending on state law. It is irrevocable, meaning once…
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IRS Not Have Sufficient Funding To Handle Transfer Pricing
According to Law360 the IRS lacks the resources to enforce anti-tax-avoidance measures targeted at offshore transfer pricing schemes, the agency has said in response to a watchdog report on the subject. The revenue agency agreed with many of the recommendations offered in a September report by the U.S. Treasury Inspector General for Tax Administration for…
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Swiss Bank Rats Out NYU Business Professor – Results in Fine of $100M & Up To 5 Yrs in Prison – What Are You Waiting For?
We previously posted October 15, 2016 144 Offshore Banks & Now Financial Advisors Are Turning Over Your Names To The IRS - What Are Your Waiting For? where we discuss that there are, as of October 15, 2016, 144 offshore banks and financial advisors that are turning your names over to the IRS as part of their deferred…
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