Reaping a tax benefit requires planning
Article Abstract:
The 15% excise tax on excess distributions from a qualified plan is waived for income tax purposes only from Jan 1, 1997 through Dec 31, 1999, under the Small Business Job Protection Act. For those who are considering the removal of the distributed amount from the plan there are alternatives that are available. Making a gift to children after the distribution and tax is one, as is purchasing a single-premium life insurance policy with the funds.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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For some clients charity should begin at home
Article Abstract:
Financial planners should become familiar with the charitable remainder trust. These trusts are often used to satisfy a client's charitable desires because they carry a strong tax advantage. Charitable remainder trusts have also been used to distribute alimony to an ex-spouse and to pay a donor's obligations. Donors can choose to have the trust distribute a fixed sum on a regular basis or pay beneficiaries a percentage of the assets.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
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Model buy/sell agreements to meet IRS challenges
Article Abstract:
Financial advisers can provide a valuable service through the effective valuation of a family business and buy/sell agreements. A good strategy for advisers is to convince the owners of the family business that there is a specific valuation for the asset and to find a qualified appraiser to perform the service. The appraisal should be updated regularly and the 1990 tax law followed as a guide to buy/sell agreements.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1996
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