The IRS has backtracked on its guidance from 2012, by exempting certain self-rental income from the new 3.8% Medicare surtax. The new guidance applies common sense by aligning the tax treatment of self-rental arrangements with the passive loss rules under Section 469. Taxpayers should be able to avoid the surtax…
A recent Tax Court case, Pool v. Commissioner, is the first court opinion in many years describing the limits of a popular capital gain tax planning technique used by real estate investors and developers. Some real estate project legal structures enable investors to recognize a mix of long-term capital gain and…
These materials were presented to the FICPA’s Gulf Coast chapter on January 7, 2014: DOMA and Estate Planning: A Florida Perspective Presented by Douglas J. Elmore – Williams Parker PPT Outline Trusts in an Era of Portability: The Not-so-Simple Analysis Presented by Jeffrey T. Troiano – Williams Parker PPT Outline Medicare Surtax Planning For…
Family limited partnerships are often used as sophisticated estate planning techniques. When properly formed and maintained, family limited partnerships can provide a meaningful reduction in estate and gift tax, as well as creditor protection. Although there have been several cases that uphold the legitimacy of properly structured and operated family…