Newsletters
Aug 29, 2023
Portability of Deceased Spousal Unused Exclusion Extended
Revenue Procedure 2022-32 (2022-30 IRB 101) became effective on July 8, 2022. This guidance issued by the IRS allows certain taxpayers an extended amount of...
Daily Dividends for Mutual Funds
Many income-focused funds that invest primarily in bonds and money-market securities accrue their dividends on a daily basis despite being only paid out on a...
Aug 22, 2023
Wealth Transfers Can Protect Families From Sunsetting Tax Breaks
With many federal gift and estate tax exclusions set to expire, Baker Tilly's Michael Lum says now is the time to consider transferring family assets to protect...
Including sales, and other account activity, in your alternate valuation
If you prepare alternate valuations which have transactions between the date of death and alternate date, Appraise allows you to input 17 unique types. They are...
Aug 15, 2023
U.S. Appeals Court: Deathbed Checks Are Includible in Decedent's Estate
Time is precious, especially when a donor contemplates making deathbed gifts before their ultimate demise. Although the donor's time to make such gifts is...
Using SEDOL numbers to price international securities
We have the ability to price international securities using SEDOL numbers. The stock exchange daily official list (SEDOL) is a seven-character identification...
Aug 08, 2023
For Want of a Proper Acknowledgement, Taxpayer Loses A $5.2 Million Deduction.
Previously, I discussed the impact of failure to get a goods thank you letter from a charity to be able to take a deduction for a charitable gift. The Tax Court...
Gift Tax Valuations
Did you know, in addition to estate tax valuations, we also provide gift tax valuations...
Aug 01, 2023
Aretha Franklin's Estate: Why Copyrights Require Estate Planning
The news of the recent resolution of the Aretha Franklin estate is a high profile, and expensive, lesson in how not to manage copyrights in an estate...
Pricing Money Market Funds
A client recently asked why we were unable to price a Fidelity Money Market Mutual Fund...
Jul 25, 2023
Be Prepared” Should Be Your Estate Planning Motto: A Real Story
Independence, self-reliance, self-sufficiency, are all laudable goals for us as individuals. Independence is the hallmark of a well crafted and administered...
Broker statements and broker generated valuations are not always correct.
We can't count the number of times our customers ask us to prepare IRS Form 706 valuations for their clients that the corresponding brokerage firm got wrong...
Jul 18, 2023
How to Handle Estate Planning for Multigenerational Living Arrangements
When multiple generations live on the same property, issues over ownership, who inherits what and who provides what can get complicated fast...
Bond Pricing...Again
As we mentioned last week, while equity pricing is easy to find, bond pricing including yield, is much harder...
Jul 11, 2023
AICPA Recommends Changes to IRS Form 706-GS (D-1)
The American Institute of CPAs (AICPA), provided the Department of the Treasury and the Internal Revenue Service (IRS) issues and recommendations for...
Bond Pricing
While equity pricing is relatively easy to find, bond valuations are much more difficult...
Jun 27, 2023
Heirs Can Be Personally Liable For Estate's Taxes
The heirs of an estate can be liable to pay the estate or income taxes (and perhaps other obligations) of the estate...
New IRS Form 8971 product for Appraise clients
We have developed a new IRS Form 8971 product which imports Appraise portfolios...
Jun 20, 2023
An Estate & Trust Professional's Four Takeaways From Tax Season 2023
Another tax season has come and gone. As we shift our focus to extended and fiscal year returns, other duties, and possibly a well-earned vacation, here are...
Gift Tax Valuations
We provide stock and bond gift tax valuations in full compliance with the stringent IRS Form 709 reporting requirements...