When it seems like you’ve exhausted all tax-saving strategies, there still may be another one left. It’s called an Incomplete Gift Non-Grantor Trust (ING). An ING is an irrevocable trust designed to reduce or eliminate state income tax. It is typically used by...
Debates over raising the debt ceiling deal and the associated nail-biting have become an unfortunate norm in the U.S. The debt ceiling refers to the limit set on the amount of money the U.S. government is authorized to borrow for current existing legal obligations....
The death of Tina Turner brought to light a high-profile example of an American who expatriated and how that can affect taxes. Her estate may owe no U.S. estate taxes because she gave up her U.S. citizenship. While many wealthy individuals would love to achieve the...
On January 5, 2023, the Federal Trade Commission (FTC) proposed a new rule which would ban all non-competes nationwide. Non-competition agreements have been criticized by many labor groups and some states already prohibit them. The difference is that the FTC rules...
The battle over the estate of Lisa Marie Presley is the latest dispute involving celebrities who died without proper estate planning. While most people don’t have an estate as large as the Presley’s, there are important lessons for anyone to learn from this situation...
