Browsing articles in "Income Tax Planning"

Section 1035 Exchange Tax Trap

In a recent ruling, it was decided that monies received from a terminated annuity contract were taxable to the annuitant since the annuitant received the cash and then immediately paid the cash over to a new annuity company as opposed to having the old annuity company transfer the cash directly to the new annuity company [Read the Rest]

Putting Your Children to Work

If you run a business in which you are able to hire your children to help you, then paying them wages for the work they do, will teach them many lessons.  It will help them put aside money and additionally it can help save taxes for you. Since the IRS is likely to look closely [Read the Rest]

Deferred Compensation

The Small Business Owner and Deferred Compensation by Barry Boscoe, CFP Over the last five to ten years, there has been a reduction in qualified benefits for highly compensated employees, and an increase in the use of non-qualified deferred compensation plans. Today, it is unlikely that you will find a large corporation that does not [Read the Rest]

Capital Gains Reduction

LOS ANGELES BUSINESS JOURNAL Reprinted by permission of the Los Angeles Business Journal™ There Is a Way to Sell Appreciated Assets Without a Capital Gains Hit by Barry Boscoe, CFP Are you thinking about selling a highly appreciated asset and reinvesting the profits, but you’re worried about how much money you’ll lose to capital gains taxes? [Read the Rest]

Capital Gains Bypass Trust

FINANCIAL OUTCOME© VOL. 1 NO. 2 IDEAS FOR CREATING AND PRESERVING WEALTH Reprinted by permission of the Financial Outcome© Capital Gains Taxes Bypass the Tax and Reap the Rewards by Barry Boscoe, CFP Capital Gains Taxes are tearing away your assets. Bypass that tax predator with a trust that will increase your assets. In this [Read the Rest]