In Riegels v. Commissioner (In re Estate of Saunders),1 the U.S. Court of Appeals for the Ninth Circuit addressed whether it was proper for the Tax Court to disallow a $30 million deduction claimed by the estate of Gertrude Saunders for a lawsuit that was pending at the time of Gertrude’s death.
In Beim v. Hulfish, the Supreme Court of New Jersey determined for the first time that federal estate taxes didn’t constitute pecuniary injuries under the state’s wrongful death statute and, therefore, couldn’t be recovered by a decedent’s heirs.
In a recent private letter ruling, the IRS addressed whether the judicial reformation of a net income makeup charitable remainder unitrust was in conformance with final Treasury regulations published after the creation of the trust.
In Pesky v. United States, the federal District Court of Idaho addressed whether a charitable deduction claimed in connection with the contribution of a conservation easement should be denied because the contribution was part of a larger quid pro quo transaction.
In Evenchik v. Commissioner, T.C. Memo. 2013-34 (Feb. 4, 2013), the taxpayers donated approximately 72 percent of their shares in a corporation called Chateau Apartments, Inc., to a non-profit housing organization. The issue addressed in the case was whether the taxpayers submitted a qualified appraisal for the charitable deduction carryforward claimed on their 2006 return.
In a recent decision, a Massachusetts federal court upheld the Internal Revenue Service’s assessment of penalties when, based on the advice of its accountants, an estate didn’t file a timely estate tax return.
The Tax Court recently addressed whether a taxpayer must pay an additional 10 percent income tax on distributions he received from his qualified retirement plans, despite the fact that the funds were subsequently used to pay court-ordered alimony to the taxpayer’s former spouse.
Though high yield is often considered one category, its two components—high yield bonds and leveraged loans—perform differently in rising rate environments. Bonds pay the same rate of interest regardless of the risk-free rate—a feature attractive in low or declining rate environments. Leveraged loans are generally safer investments that are more senior in the capital structure, have lower volatility and provide floating interest rate exposure...More
With the wind at their backs, sprinters have broken speed records. Similarly, the tailwind of a bull market has boosted the fortunes of equity investors over the past five years. In both cases, the pace cannot be sustained over a long period of time. Look back no further than the past 10 years for confirmation of the market’s lack of endurance....More
There are over a hundred behavioral biases that investors can be subject to, leading to poor investment decisions. To educate your clients and help counsel them to more appropriate investment decisions, you need an understanding of the market and how investor biases take root....More
With many client portfolios barely outperforming the market, and many investors still driven by fear-based thinking and irrationality, advisors need effective strategies for portfolio construction now more than ever....More
Technology is a critical differentiator in today's digital age for running an efficient and effective practice. Those entrepreneurial financial advisors and wealth managers who are leveraging technology in their firms are creating better client experiences, improving cash flow, generating new revenue streams, and scaling their services....More