Estate Planning for Young Adults

1dc5774c-1394-4671-af6f-c58a4f1d001e-thumbnailPeople in their 20s often do not think that they need to worry about estate planning. They plan to live much longer, so they believe there will be time to get an estate plan later. However, you never know when tragedy can strike, so it is important that 20-somethings get estate plans. (more…)

Single People Need Estate Plans Too

7810646e-8c46-467f-996b-716e1c52ed97-thumbnailMuch of the talk about estate planning is often centered around married couples with children. This leads some single people to think that estate plans are not necessary for them. However, estate planning can be even more important for singles than married people.

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Check Your Estate Planning List Twice

6a01b8d0a6271d970c01bb087bd91b970d-500piDwelling on estate planning may seem like a bit of a downer.  Now is as good a time as any to take stock of your personal finances and also make sure you have done some proper estate planning. Having your affairs in order will lift a huge burden off your family that would otherwise face a big emotional and financial toll in probate court should something happen to you.

 

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TAXLITIGATOR – Tax Court Holds IRS Acted Arbitrarily and Capriciously in Making Transfer Pricing Adjustments Against Amazon

Enjoy this interesting Taxlitigator Article:

Business Meeting NotesOn March 23, 2017, the Tax Court ruled against the IRS in its lengthy transfer pricing dispute with Amazon.com, Inc. (“Amazon U.S.”) overAmazon’s transfer pricing policies relating to intangible assets provided by Amazon U.S. to its European subsidiary in 2005 and 2006 that were required to operate Amazon’s European website business.  In redetermining the IRS’s reallocation of income from Amazon’s European subsidiary to Amazon U.S., the Tax Court held that the IRS abused its discretion and acted arbitrarily and capriciously in its original determinations against Amazon. (more…)

Which life events that require an immediate estate plan update?

119ba0ed-3328-4efc-b6cc-540d61ce039f-thumbnailEstate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must also name someone who will make medical and financial decisions for you if you cannot make decisions for yourself.  You also need to consider how to leave your property and assets while considering your family’s circumstances and needs. (more…)