Tax relief benefits seniors
Article Abstract:
Older taxpayers are the biggest beneficiaries of recent changes in the Relief Tax approved by Congress in fall 1997. One of the relief measures that will benefit seniors is the elimination of the requirement to invest the proceeds of the sale of a personal residence to avoid capital gains tax, thus allowing flexibility in selling a residence. The 15% excise tax on excess distributions and accumulations in pension and employee benefit plans has been repealed, while wealth planning opportunities are provided by the lowering of the capital gain rate to 20%.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1998
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Preserving the family business: a family limited partnership can help heirs maintain control of the business without the advantages of a trust
Article Abstract:
Successful family-owned business enterprises establish family limited partnerships (FLPs) for reduced taxes, maintained business viability and retention of control while passing ownership along to their children. FLPs also leverage gifts made to offspring and relatives, and offer credit protection since creditors can only get what is actually distributed to the partner. In addition, FLPs have no investor age requirements and no law authorizes or prohibits specific assets from FLPs such various assets can be covered by FLP to facilitate asset management.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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The family business survival guide -- part I
Article Abstract:
Valuation of family-held business enterprises begins with financial balance sheets and must include determining multiples of annual revenue. An audit of the company's books will determine roughly how business is created during a fiscal year, and how much of the business is valued in terms of equity or debt. Predicting future revenue will require an interpretation of the business as an investment, and the rate of return on the business must be generated.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
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- Abstracts: Pay me now, care for me later; despite the early hype over long-term care policies and the lure of new tax breaks, sales haven't soared the way many insurers expected they would
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