By eparkhurst | Published May 8, 2017 | Posted in Taxation | Leave a comment
Next up for House Republicans in Congress: tax reform. After the lengthy health care debate, the Republican-controlled House of Representatives will now turn their focus to tax reform, hoping to reach agreement before year end. However, new uncertainties about what the final tax package will contain may make it an uphill battle, mainly over policy Read More
Read MoreEstate planning is all about protecting your family and ensuring that your wealth is distributed according to your wishes. So the idea that someone might challenge your estate plan can be disconcerting. One strategy for protecting your plan is to include a “no-contest” clause in your will or revocable trust (or both). What’s a no-contest Read More
Read MoreIf your estate plan calls for making noncash gifts in trust or outright to beneficiaries, you need to know the values of those gifts and disclose them to the IRS on a gift tax return. For substantial gifts of noncash assets other than marketable securities, it’s a good idea to have a qualified appraiser value Read More
Read MoreWhite House tax proposals. The Trump administration is calling for a large decrease in the corporate tax rate from 35 to 15%. The proposal is NOT formal legislation but is an outline composed of broad principles. It also cuts the top rate on pass-through businesses, including sole proprietorships, from 39.6% to 15% and makes other Read More
Read MoreA Roth IRA can be a valuable estate planning tool, offering the opportunity for tax-free growth as long as it exists and requiring no distributions during your life, thus allowing you to pass on a greater amount of wealth to your family. While traditional IRAs are more common, there’s no time like the present to Read More
Read MoreOn November 10th at the Rolling Hills Country Club, attorney Eric S. Parkhurst will be presenting a seminar with Sunflower Bank and Betts Consulting on Estate Planning. The two hour seminar will begin at 6:00 pm and if you are interested in attending, please RSVP to Mr. Parkhurst directly by emailing him at [email protected].
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