Changes in the tax code have doubled the standard deduction, meaning that clients who donate money to charity may not see the tax benefits to which they are accustomed. Advisers can help by encouraging clients older than 70½ to use qualified charitable distributions and having younger clients use gift clumping strategies. Volume 1 of The Adviser's Guide to Financial and Estate Planning has several chapters ...

C corporations with foreign-derived intangible income can benefit from a 37.5% deduction. This article provides guidance and dispels general misconceptions or mistaken impressions regarding this new deduction. Further, the article provides an overview of the FDII concepts and pertinent definitions and terminology, as well as practice tips and implications for claiming the FDII deduction, for which many comp ...

The statute of limitation defines the time within which the IRS may initiate an audit of a tax return.  According to Sec. 6501(a), the statute of limitation for income tax returns is three years from the filing date of the return or the due date if the return is filed early.  Marilyn Young discusses the issue. To read the full article in The Tax Adviser, click: The Statute of Limitation for Net Operating Lo ...

Believe it or not, Hawaii’s top marginal tax rate is 367,100 percent. That makes France’s 75 percent and 100 percent tax rates seem like a downright bargain. A new paper released by the University of Hawaii at Hilo, Texas Tech University and The Institute for Business and Finance Research details how state tax laws in Hawaii create a tax cliff of epic proportions where a single extra dollar in income can tr ...