If you do not learn from your mistakes you are doomed to repeat them. In Estate Planning, if you do not learn from other’s mistakes, you are likely to repeat them. Mistakes in the Estate Planning of high profile celebrities is one very good way to learn the lesson of what not to do. Here are eight celebrity
Taxes
DOJ is sending a message to tax professionals – particularly CPAs – who are involved in the syndicated conservation easement (SCE) industry. The message is “Be afraid. Be very afraid.” That is my reading of a recent press release about Georgia CPA Herbert E. Lewis indicted for SCE schemes involving fraudulent charitable contributions. DOJ releases like to lay
The Biden administration has released the Green Book, which details what they wish for as changes to the way income, and specifically capital gains are taxed. Here is a quick summary of the proposed changes: The top marginal individual income tax rate rises from 37% to 39.6%. The top individual income tax bracket begins at $452,700,
The ability of holding companies to recover VAT on costs incurred continues to be hotly contested by HM Revenue & Customs. As such, companies must plan in a careful and timely manner to protect their VAT recovery regarding refinancing, restructuring deal transactions, and ongoing operating costs. There have been several recent developments in UK and
Still haven’t received your tax refund for tax year 2020? There were nearly 12 million returns in processing, according to the latest Internal Revenue Service filing season statistics, as of June 11—20 business days after the May 17, 2021 filing deadline and. That’s double the amount of returns in processing eight business days after the