In a recent case, the Tax Court held that a withdrawal from an IRA (individual retirement account) was a taxable event even though the IRA owner claimed that it was a nontaxable transfer pursuant to a divorce decree. Read More
Being able to gain control of one’s individual personal finances is an almost impossible task. Read More
Gifts to family members, charities and others who may be object of the donor’s bounty, are an effective way to reduce the taxable estate and to split income for income tax purposes. Read More
Changes to the Internal Revenue Code made by TRA ’97 and the Internal Revenue Restructuring and Reform Act of 1998 (’98 Act). Read More
Generally, a defective grantor trust is an irrevocable trust for the benefit of children and/or grandchildren in which the grantor does not retain any income interest. Read More