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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

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NGOenabler

Condonation For Delay in Filing Form 10B Form 10BB and Form 9A and Form 10

⏲ 6 minutes 13 seconds 👁 2.4K

Jason D. Knott

How to Complete IRS Form 8960 - Net Investment Income Tax of 3.8%

⏲ 7 minutes 56 seconds 👁 1.7K

Alvin Sta Ana: A visionary leader in the accounting industry<br/><br/>Alvin Sta Ana is not your average Certified Public Accountant (CPA). As the president of SIMPLY ACCOUNTING PH, Sta. Ana has established himself as a visionary leader in the accounting industry, with a strong focus on providing business solutions for MSMEs and entrepreneurs. His strong advocacy for tax compliance sets him apart in the industry. He is committed to helping people understand their tax obligations and navigate the complex world of taxation. Through SIMPLY ACCOUNTING PH and TAXMATE, Sta. Ana is making a positive impact on the business community and empowering individuals to take control of their finances.<br/><br/>Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe <br/><br/>Visit our website at https://www.manilatimes.net <br/><br/>Subscribe to Business Franchise Guru: https://www.youtube.com/@BusinessFranchiseGuru<br/> <br/>Follow us: <br/>Facebook - https://tmt.ph/facebook <br/>Instagram - https://tmt.ph/instagram <br/>Twitter - https://tmt.ph/twitter <br/>DailyMotion - https://tmt.ph/dailymotion <br/> <br/>Subscribe to our Digital Edition - https://tmt.ph/digital <br/> <br/>Check out our Podcasts: <br/>Spotify - https://tmt.ph/spotify <br/>Apple Podcasts - https://tmt.ph/applepodcasts <br/>Amazon Music - https://tmt.ph/amazonmusic <br/>Deezer: https://tmt.ph/deezer <br/>Stitcher: https://tmt.ph/stitcher<br/>Tune In: https://tmt.ph/tunein<br/> <br/>#TheManilaTimes <br/>#worldnews <br/>#philippines<br/>#entrepreneur

Alvin Sta Ana: A visionary leader in the accounting industry

⏲ 44:25 👁 5.2M

Suresoft Music

Income Tax Due Date | Form 9A | Form 10 | Trust | 31st July 2022

⏲ 4 minutes 21 seconds 👁 196

The Tax Geek

How to fill out Form W-9

⏲ 7 minutes 6 seconds 👁 147

A single mum helped a couple have a child through surrogacy - which allowed her to buy her first ever home.<br/><br/>Teale Kelley, 27, was able to buy a house for her and her daughter Ella, 10, after earning £56,721 ($72,000) as a surrogate for a couple. <br/><br/>Teale used a surrogacy agency, which handled everything from the matching process to the intricate legal process.<br/><br/>In December 2023, she gave birth to a baby boy, and two months later, she was able to purchase her £401,300 ($500,000) four-bedroom home.<br/><br/>Teale always knew she wanted to be a surrogate and has always loved helping others.<br/><br/>Teale, a registered nurse in Denver, Colorado, USA, said: \

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CA Swarnim Rai

IMPORTANT CLARIFICATION ON TRUST REGISTRATION, FORM 10BD, FORM 10B, FORM 10 & 9A. DUE DATE EXTENDED.

⏲ 26 minutes 6 seconds 👁 986

An investigation has revealed that Nestle is selling baby products containing added sugar in India and other low and middle-income countries. However, the same products without sugar are sold in countries like Germany and the UK.<br/>

Nestle Products Sold In India & Low-Middle Income Countries Contain High Levels Of Sugar: Report

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The shocking loss of income and retirement savings that disproportionately affect divorced women is a big challenge – especially for those over 50.

The Divorce Gap And Gender Retirement Issues

⏲ 2:45 👁 910K

Credit: SWNS / Whitney Davis<br/><br/>A 'DINK' couple says they wouldn't change their childfree life - going on seven holidays a year and being \

⏲ 2:30 👁 240K

Chancellor Jeremy Hunt says he would like to bring down taxes - but only if it were fiscally responsible. <br/> <br/>He adds he would also like to put more money into public services through growing the economy rather than more funding. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Hunt would like to relieve tax burden in 'responsible' way

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