Some of the calculations in Webcalculators have been updated to incorporate the new mortality table that is based on the 2010 census. Although there are not yet any new actuarial tables from the Internal Revenue Service, the life estate, annuity, … Continue reading
A new calculation for the valuation of promissory notes has been added to Webcalculators, the overview for which is below: … Continue reading
A new Webcalculator has been added to my on-line service to provide factors, and values, for the valuation of unitrust remainders, such as charitable remainder unitrusts (CRUTs). These factors and computations are based on tables published by the Internal Revenue … Continue reading
In addition to the domain change that has been announced for Webcalculators, two new calculators have been added: Factors to determine the present value of the income interest and remainder for terms of years, one life, two lives, and the shorter … Continue reading
I’ve created a new on-line service that provides specialized calculators for certain estate and tax planning issues. Currently, the following calculators are available: Cost/Benefit of Gifts of Appreciating Property Cost/Benefit of Grantor Trusts Gift Tax on Net-Net Gifts Income Tax … Continue reading
Pennsylvania inheritance tax law allows a trust for the “sole use” of the surviving spouse to be taxed entirely at the death of the surviving spouse, rather than having to pay tax on the present value of the taxable remainder...
Tax deferral is usually good, but really only for income taxes. Generally speaking, gift and estates taxes are not minimized through deferral, and the most important consideration is usually the rate of tax to be paid, and not the timing of the tax payment.Continue reading